Bengaluru — Gold prices climbed due to a weaker dollar on Tuesday, extending gains into a third session, after US President Donald Trump said he was "not thrilled" with the Federal Reserve for raising interest rates. Spot gold was up 0.3% at $1,193.92/oz at 3.55am GMT after gaining 0.5% in the previous session. US gold futures were up 0.5% at $1,200.6 /oz. Trump’s remarks are having a negative effect on the dollar, and in turn, lending support to gold prices, said Stephen Innes, Asia-Pacific trading head at Oanda. The dollar sagged against major peers and the yen on Tuesday after Trump criticised his own appointee, Fed chair Jerome Powell, for raising interest rates. Gold is highly sensitive to rising US rates, as these increase the opportunity cost of holding non-yielding bullion while boosting the dollar, in which it is priced. The US central bank has raised rates twice so far in 2018 and targets two more hikes, with the next one slated in September. However, Atlanta Fed president...
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