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Gold firms as US dollar slips further
Business World Philippines
|May 22, 2025
GOLD PRICES rose more than 1% on Tuesday as the US dollar weakened further and stocks slipped amid uncertainty over US tariff policy and a potential ceasefire between Russia and Ukraine.
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Spot gold was up 1.7% at $3,284.74 an ounce by 1345 ET (1745 GMT). US gold futures settled 1.6% higher at $3,284.6.
The dollar slipped again on Tuesday, weighed down by the Federal Reserve's caution over the economy, having sold off broadly on Monday after ratings agency Moody's downgraded the US sovereign rating, one notch down from "Aaa" to "Aal" on Friday due to concerns about the nation's growing debt.
This story is from the May 22, 2025 edition of Business World Philippines.
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