Gold eases as placid Fed supports dollar, dents demand for bullion

Gold eases as placid Fed supports dollar, dents demand for bullion

21 May 2019 10:00 AM
 
Gold eased on Tuesday after touching a more than two-week low in the previous session, as increasing bets that the U.S. Federal Reserve will not cut interest rates this year boosted the dollar which usurped bullion's safe-haven appeal. Spot gold fell 0.2% to $1,275.61 per ounce. Last session, gold dipped to a more than two-week trough of $1,273.22. U.S. gold futures also eased 0.2% to $1,275.20 an ounce. The dollar held near a 2-1/2-week high on Tuesday, supported by higher U.S.-yields and as intensifying trade frictions between the United States and China boosted appetite for the safe-haven greenback.

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