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Gold Eases from Two-week High as Firmer US Dollar Weighs
Al-sharq Al-awsat·14 hours ago·Global·1 min read
Source: Al-sharq Al-awsat
Gold retreated after touching its highest level in two weeks on Monday as the US dollar edged up from recent lows, though easing bets on Federal Reserve interest rate hikes limited bullion's losses.
Spot gold was down 0.4% at $4,160.33 per ounce, as of 0451 GMT, after hitting its highest since June 22 earlier in the day.
US gold futures for August delivery climbed 1.1% to $4,172 per ounce, according to Reuters. "Gold continues to face headwinds from a resilient US dollar," said Tim Waterer, chief market analyst at KCM Trade.
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