Gold prices slide as Turkey central bank upheaval buoys US dollar

Topics Gold Prices | Turkey | US Dollar

By Asha Sistla (Reuters) - Gold prices slipped on Monday as investors opted for alternative safe-haven assets such as the U.S. dollar and bonds after Turkey's abrupt decision to replace its central bank head with a critic of high interest rates sparked financial uncertainty. Spot gold was down 0.2% at $1,741.19 per ounce by 0430 GMT, having dipped as much as 0.

7% earlier in the session. U.S. gold futures were down 0.1% at $1,740.20 per ounce. "This morning when the Turkish Lira fell out of bid, we might have seen gold.....

This article is no longer available in our repository.

There could be multiple reasons for this.