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Gold holds under $4,000 on US dollar resilience, Fed rate outlook
Gold traded below the $4,000-per-ounce mark again on Tuesday as the dollar remained resilient at over three-month highs, while reduced chances of another U.S. interest rate cut in December and easing U.S.-China trade tensions blunted bullion’s demand. Spot gold was down 0.8% at $3,970.39 per ounce, as of 0625 GMT. U.S. gold futures for December delivery slid nearly 1% to $3,979.30 per ounce. The dollar steadied, hovering near a three-month high as a divided U.S. Federal Reserve spurred traders to rein in interest rate cut wagers. “The stronger dollar is acting as a thorn in the side of gold, with traders ... (full story)
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