Bengaluru — Gold prices touched the lowest in more than one week on Thursday, as the dollar stood firm on rising US treasury yields, with investors focusing on who would replace Janet Yellen as the next chief of the Federal Reserve. Spot gold was down 0.2% at $1,277.86/oz as of 3.47am GMT after earlier hitting its lowest since October 9 at $1,276.44. US gold futures for December delivery fell 0.3% to $1,279.80/oz. "Depending on how the dollar goes, we might look at $1,250/oz-$1,260/oz as the next stop for gold to trade down. We don’t see immediate upward catalyst for gold except for North Korea," said Richard Xu, a fund manager at China’s biggest gold exchange-traded fund, HuaAn Gold. The dollar hit its highest in about two weeks versus the yen, supported by this week’s rise in US bond yields, with US President Donald Trump set to make a decision in the "coming days" on Yellen, who is also one of the five candidates being considered for the job. US short-dated treasury yields jumped...
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