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REUTERS
May 16, 2018

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Goldfirm

Bengaluru : Gold traded sideways in Asian hours on Tuesday, buoyed by safe-haven demand with upside potential restricted by a firm dollar and outlook for higher interest rates in the United States.

Spot gold was nearly unchanged at $1,311.51 per ounce at 0619 GMT.

U.S. gold futures for June delivery were, however, down 0.5 percent at $1,311.30 per ounce.

The rising tensions in Gaza had induced some safe-haven buying for gold earlier in the session, ANZ analysts said in a note.

Israeli troops shot dead dozens of Palestinian protesters on the Gaza

border on Monday when the high-profile opening of the U.S. embassy to Israel in Jerusalem by the Trump administration raised tension to boiling point after weeks of demonstrations.

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