Gold Breaks Above $1,800 as Dollar Weakens After Fed Commentary
- Fed’s Daly and George are playing down aggressive rate hikes
- Gold exchange-traded funds have added 42 tons this year
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Gold rose for a second straight day as the dollar weakened after U.S. Federal Reserve officials played down prospects of aggressive rate hikes coming imminently.
The softness in the greenback helped gold cross the psychologically important $1,800-an-ounce threshold, which is just above the metal’s average price last year.