Bengaluru — Gold prices eased on Thursday, nearing a one-year low hit in the previous session, as the dollar firmed on the potential for further US interest rate hikes.Spot gold was down 0.1% at $1,224.76/oz at 3.59am GMT. The metal slipped to its lowest since mid-July 2017 on Wednesday at $1,220.81/oz.US gold futures for August delivery were 0.3% lower at $1,224.70/oz."Gold market is just following the US dollar, the dollar is strong so it’s pushing the market down," said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong."The economy is still good and interest rate still up, so that’s good for the US dollar and negative for gold for the time being." The dollar held firm against the yen and other major currencies on Thursday, supported by bullish comments from the US Federal Reserve chairman, which affirmed the expectation about the central bank’s possible interest rate moves this year."Rallies continue to be well sold and it is difficult to see a break towards $1,2...
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