London — Gold dipped on Tuesday as investors nervously awaited news on the new head of the US central bank, while strong share markets and a calmer geopolitical environment sapped safe-haven demand. "The hawkish speculation about a new Fed chair has added some downside pressure," said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen. US President Donald Trump told reporters on Monday he was "very, very close" to making his decision on who should chair the US Federal Reserve. A hawkish candidate would be expected to favour higher interest rates, boosting the value of the dollar and making the greenback-denominated metal more expensive for holders of other currencies. Spot gold slipped 0.2% to $1,279.01 an ounce by 10am GMT, after hitting its lowest since October 6 at $1,271.86 in the previous session. US gold futures for December delivery fell 0.1% to $1,280.02/oz. Spot gold has shed 6% since touching a one-year high of $1,357.54 on September 8, largely due to a rebo...
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