Gold slips as US dollar claws back some ground
Jan 30, 2018-
Gold fell on Monday as a revival in the dollar and a rise in bond yields to multi-year peaks prompted some buyers to cash in gains in the metal after its sixth weekly price increase in seven weeks. Gold has risen more than 3 percent so far this month, and after a strong end to December touched its highest since August 2016 last week at $1,366.07 an ounce. Its strength has been driven largely by a slide in the dollar index to three-year lows. An uptick in the currency on Monday after six straight weeks of losses has prompted a pullback. Spot gold was down 0.5 percent at $1,342.99 an ounce at 1230 GMT, while US gold futures for February delivery were down $10.50 an ounce at $1,341.60.
Published: 30-01-2018 08:45