Bengaluru — Gold was trading below the previous session’s 10-month peak on Thursday as the dollar inched up after minutes from the last US Federal Reserve meeting rekindled the expectation of another rate increase in 2019. Investors were also keeping a close eye on talks to end a trade dispute between China and the US. Spot gold had inched up 0.1% to $1,340.14/oz by 4.04am GMT, having touched $1,346.73/oz in the previous session, its highest level since April 19. US gold futures were down 0.5% at $1,340.90/oz. “There are both technical and fundamental reasons for this pull back in gold prices. It is under some technical selling pressure at the moment,” said Margaret Yang, market analyst with CMC Markets, Singapore. “It was a clearly dovish statement by the Fed,” she said adding that the dollar rebounded after the minutes and gold traders are now taking profits. The dollar index against a basket of six major currencies was steady at 96.467. The Fed, in the minutes of its latest meeti...
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