Gold holds its ground on weaker dollar versus Fed hike calls
Further hawkish pushback by US central bank seen as an obstacle for bullion, says analyst
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Further hawkish pushback by US central bank seen as an obstacle for bullion, says analyst
Spot gold held its ground at $1,792.19 per ounce, as of 0505 GMT.
Gold prices ticked higher on Monday as a tepid dollar made bullion less expensive for overseas buyers, although the prospects of further interest rate hikes by the US Federal Reserve next year kept gains in check. Spot gold was up 0.1 per cent at $1,794.60 per ounce, as of 0226 GMT. US gold futures rose 0.2 per cent at $1,804.00. The dollar index slipped 0.1 per cent.
Gold prices edged up on Tuesday helped by a softer dollar, although prices moved in a tight range as investors maintained caution ahead of US inflation data and the Federal Reserve's policy decision. Spot gold gained 0.3 per cent to $1,785.78 per ounce, as of 0302 GMT. US gold futures were up 0.3 per cent at $1,796.50. The dollar index was down 0.2 per cent. A weaker dollar
Gold prices edged up on Tuesday, helped by a slight pullback in the U.S. dollar, which makes the greenback-priced bullion less expensive for buyers holding other currencies....