Gold Futures Rebound as Dollar Slips Ahead of Fed Chair’s Speech
- Futures data show above-even chance of December rate increase
- Swiss gold exports rose 13 percent to 192 tons in July
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Gold futures posted the first gain in three days as the dollar fell, reducing demand for the metal as an alternative asset.
The greenback slipped against a basket of currencies on speculation that Federal Reserve Chair Janet Yellen, who speaks Friday at an annual symposium in Jackson Hole, Wyoming, will stop short of affirming the central bank will raise interest rates by year-end. Low rates are a boon for gold, which becomes more competitive against interest-bearing assets.