Gold up in Asia as USD weakens @WWW.MCXRESEARCHGURU.COM 8859222859

Gold continued climbing in Asia on Thursday, as investors backed away from the dollar following dovish testimony by US Federal Reserve Chair Janet Yellen and ongoing political concerns in the US.

Gold futures for August delivery edged up 0.32% to $1,223.04 as of mid-morning.

Gold has been rebounding this week, pushed up by a raft of news that pushed the dollar down and sent investors towards the security of gold, which typically moves in the opposite direction to the greeback. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.17% to 95.39 as of mid-morning in Asia.

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