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REUTERS
June 13, 2018

Gold eases

Business

REUTERS
June 13, 2018

Bengaluru : Gold prices edged lower on Tuesday, weighed down by a stronger dollar amid encouraging signs ahead of an historic U.S.-North Korea summit and a likely interest rate hike by the U.S. Federal Reserve.

Spot gold was down 0.2 percent at $1,297.68 per ounce at 0046 GMT. U.S. gold futures for August delivery were 0.1 percent lower at $1,301.60 per ounce.

The dollar index , which measures the greenback against a basket of six major currencies, edged 0.3 percent higher at 93.819. U.S. President Donald Trump said his summit with North Korean leader Kim Jong Un in Singapore on Tuesday would show if a "real deal" could happen, as both sides sought to narrow differences over how to end a nuclear standoff on the Korean peninsula. U.S. inflation expectations were flat in May after several months of gains, while Americans grew more pessimistic about income and spending growth, according to a Federal Reserve Bank survey published on Monday.

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