Spot Gold Up On Weak Dollar, Firm Equities

Spot Gold Up On Weak Dollar, Firm Equities

Spot gold, which trades higher in Europe, is being supported by a weak US dollar and firmer equity markets, says independent markets commentator Dennis Gartman. The metals markets are "responding to the strength in the global equities markets and responding to the weaker tone of the US dollar," Gartman says. Equities and EUR/USD have been boosted by encouraging Chinese gross domestic product figures, traders say. Spot gold is up $19.70 at $1,662.60/oz