Bengaluru: Gold slipped on Monday on a firmer dollar and stronger Asian equities, but stayed above the key psychological level of $1,300. The metal gained about 0.9 percent on Friday after U.S. President Donald Trump warned he might ultimately end a 2015 nuclear agreement with Iran and after data showed underlying inflation remained muted in the United States.
The weaker-than-expected U.S. inflation print helped push Treasury yields lower, giving a fillip to gold trade above $1,300, said John Sharma, an economist with National Australia Bank.
The recent rise in the dollar as Treasuries shed some of their earlier gains put a bit of downward pressure on gold, Sharma added. Spot gold was down 0.2 percent at $1,302.51 an ounce as of 0358 GMT, while U.S. gold futures for December delivery were unchanged at $1,304.80 per ounce.
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