Gold eases as dollar holds near multi-month high
SPDR Gold Trust holdings fell on Tuesday, as silver matched its lowest since January 21 2016
Bengaluru — Gold fell on Wednesday as the dollar held near a multi-month high, buoyed by interest from investors seeking cover from sliding stocks and by prospects for higher US interest rates. Spot gold was down 0.2% at $1,200.18 an ounce at 11.21am GMT. Prices had slipped to their lowest since October 11 at $1,195.90 in the previous session. US gold futures fell 0.1% to $1,200.6 an ounce. “The continuing dollar strength is weighing on gold. What people are doing is selling everything to buy the dollar and that includes gold,” said Alasdair Macleod, head of research at GoldMoney. The dollar index, a gauge of its value against major currencies, was firm near a 16-month high, after retracing slightly earlier in the session as investors took profits, prompted by gains in the euro and sterling on the back of growing confidence about a draft Brexit deal. The British cabinet will meet at 2pm GMT to consider the withdrawal agreement. Meanwhile, stocks fell on worries about a slowdown in g...
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