London — Gold prices slipped towards a one-year low on Monday as the dollar strengthened again, making bullion more expensive for buyers using other currencies. Gold has tumbled 10% since mid-April, driven lower by a surge in the US currency. Bullion was given respite last week when US President Donald Trump branded the dollar’s strength bad for the US economy, knocking the currency down from one-year highs. But the breather proved short-lived, with the greenback climbing again against the currencies of key gold-consuming markets China, India and the eurozone. "For gold to rise in a big way, we really need to see the dollar start to show some weakness," Saxo Bank analyst Ole Hansen said. Spot gold was down 0.1% at $1,230.24/oz at 11.04am GMT, moving closer to last Thursday’s low of $1,211.08. US gold futures for August delivery were also down 0.1% at $1,230.20/oz. A war of words between Trump and Iranian President Hassan Rouhani helped to lift prices only briefly. Geopolitical insta...
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