Gold Shines as Traders Count Down to ‘Critical’ CPI, Dalio Buys
- Bullion advances for a third day, dollar sags before U.S. data
- Dalio’s Bridgewater added bullion assets in final qtr of 2017
AMP's Oliver Sees 4 to 5 Fed Rate Hikes in 2018
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Gold held gains as the dollar slipped, with investors counting down the hours before key U.S. inflation data that may offer fresh clues on monetary tightening. Adding luster for the metal, filings showed billionaire hedge fund manager Ray Dalio increased holdings last quarter.
Bullion for immediate delivery rose as much as 0.6 percent to $1,337.02 an ounce, the highest since Feb. 6, and was at $1,330.92 at 10:32 a.m. in London. Gold’s about 2 percent higher this year. The Bloomberg Dollar Spot Index fell for a fourth day, the worst run in a month, and is down 2.9 percent in 2018.