SINGAPORE: Gold prices fell to a near one-week low on Thursday, as a stronger US dollar and an uptick in risk appetite following better-than-expected economic data dented demand for the safe-haven metal. Spot gold was down 0.5% to $1,933.06 per ounce by 0723 GMT, after falling to its lowest since Aug. 28 at $1,926.99 earlier in the session.
US gold futures fell 0.3% to $1,939. "Gold is tracking inversely the moves in the dollar... and part of the reason gold has not capitalised as much after Jackson Hole is risk appetite seems strong," said DailyFx currency strategist Ilya Spivak, referring to the annual central bankers' conference.
"Although there is positive growth, the overall economy is still very very weak in absolute terms and central banks are expected to remain dovish, which should be supportive for gold."
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