Gold pressured by firmer dollar, easing of North Korea tensions
Prices are forecast to move back to the lower end of its range at about $1,200 in three months, says analysts
London — Gold fell on Wednesday for the third straight day as the dollar edged higher on the back of robust US economic data and an easing in tensions over North Korea. Spot gold had slipped 0.1% to $1,270.20 an ounce by 10.40am GMT, continuing to move away from a two-month peak of $1,289.73 touched on Monday. US gold futures for December delivery fell 0.3% at $1,276 an ounce. Gold had rallied after a war of words between US President Donald Trump and North Korea’s leader about Pyongyang’s development of nuclear missiles. But in an example of how tension has subsided in recent days, the US’s top general said both countries shared a commitment to work through difficult issues. "No matter what you think about Trump, he still wants to avoid a military confrontation with North Korea," said analyst Carsten Menke at Julius Baer in Zurich. "And based on that working assumption, we see gold prices moving lower rather than higher for the next couple of weeks," he said. Prices are forecast to...
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