Bengaluru — Gold prices eased for a second session on Tuesday as a stronger dollar and bullish US interest rate outlook outweighed support from an earlier equity market sell-off. Spot gold was down 0.1% at $1,186.06/oz at 11.29am GMT. On Monday, it fell 1.2% in its biggest one-day percentage fall since August 15, also touching a more than one-week low of $1,183.19. US gold futures edged 0.1% higher to $1,189.80. Europe battled to fend off a four-day losing streak for world stocks, after weary investors saw Asian shares stumble to a 17-month low and bond markets hit by a fresh bout of selling. Adding to the bleak outlook, the International Monetary Fund (IMF) on Tuesday cut its global economic growth forecast for the first time since 2016, citing pressures from ongoing trade tussles between the US and China. “Some of the main themes in gold markets are the US Federal Reserve rate hike, higher yields and dollar strength,” said Jens Pedersen, senior analyst at Danske Bank. “At the same...
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