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Friday April 19, 2024

Gold gains

By REUTERS
August 08, 2018

Bengaluru : Gold prices edged up on a steady U.S. dollar early Tuesday, but expectations for further interest rate hikes in the United States supported the greenback and limited interest in the metal.

Spot gold was up 0.2 percent at $1,208.06 an ounce at 0051 GMT. U.S. gold futures were little changed at $1217.10 an ounce.

Asian stocks were largely steady on Tuesday, with worries over the U.S.-China trade conflict offsetting support from earnings-led gains on Wall Street.

On Tuesday the pound held near an 11-month low against the dollar reached overnight on worries of a "hard" Brexit for Britain, while simmering U.S.-China trade tensions helped support the greenback.

The dollar index , which measures the greenback against a basket of six major currencies, was unchanged at 95.348.