Gold get a little lift from a slightly weaker dollar, ignores North Korean missile test
Bengaluru — Gold prices edged higher on Wednesday amid a slightly weaker dollar, while North Korea’s latest missile test had little impact on the safe-haven metal. Gold traded in a narrow range despite a raft of economic news out of the US — including progress on tax cuts and Fed chair nominee Jerome Powell’s confirmation hearing. "Gold has not rallied at all after North Korea’s latest missile test…. It further reinforces that the risk-off safe-haven premiums associated with gold are gone for now," said Oanda senior market analyst Jeffrey Halley. "This leaves it entirely at the mercy of US yields and the dollar index." Spot gold was up 0.2% at $1,295.84 an ounce at 4.34am GMT. US gold futures were little-changed at $1,295.40. The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1%. North Korea said on Wednesday it tested a new type of intercontinental ballistic missile (ICBM) that could reach all of the US mainland. President Donald Tru...
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