Gold falls, as stronger dollar and easing political fears outweigh shares’ slide
Bengaluru — Gold prices fell on Wednesday as the dollar advanced towards more than three-month highs, and on easing concern over North Korea and a Sino-US trade war. However, the metal found some support from sliding stock markets. Spot gold was down 0.1% at $1,329.04 an ounce at 3.35am GMT. It rose 0.5% on Tuesday to break a three-session losing streak. US gold futures eased 0.2% to $1,330.60 an ounce. "As traders put geopolitical and trade risk in the rear-view mirror for the time being, how the dollar flourishes and wilts will be the primary driver of near-term gold sentiment," said Stephen Innes, Asia-Pacific trading head at Oanda. The dollar index, which measures the greenback against a basket of currencies, was up 0.1% at 90.816, just below 91.076 hit in the previous session, its strongest level since January 12. "I think that the downward trend (in gold prices) will continue for the next few days", ahead of a meeting between leaders of North Korea and the South, said Ji Ming,...
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