Data shows that US economic activity is nearing stagnation, with the US dollar weakening on Wednesday Gold has risen for three consecutive days, approaching a two-week high

Data shows that US economic activity is nearing stagnation, with the US dollar weakening on Wednesday

Gold has risen for three consecutive days, approaching a two-week high

The US dollar weakened against a basket of currencies on Wednesday, after data showed that US corporate activity approached a halt in August, setting the slowest growth since February as demand for new business in the massive service industry shrank. Gold prices jumped 1% on Wednesday to a nearly two-week high, helped by the decline in US Treasury yields and the US dollar, as investors awaited guidance from the Jackson Hole seminar on interest rates.

Gold prices jumped 1% on Wednesday to a nearly two-week high, helped by the decline in US Treasury yields and the US dollar, as investors awaited guidance from the Jackson Hole seminar on interest rates.