Tuesday, 24 October 2017 11:31 GMT
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Gold falls on strong dollar, growth hope

(MENAFN - Khaleej Times) Gold fell for a second straight session on Wednesday, retreating from one-month highs, as strong US data and optimistic global growth prospects prompted a rally in the dollar and equities, detracting interest from the metal.



Spot gold eased 0.5 per cent to $1,237.69 an ounce by 10.38 GMT. It posted a 0.7 per cent loss on Tuesday



US gold futures for February delivery were down $7.80 to $1,237.10 an ounce



"Gold is giving back some of the strength seen over the past week, with quite a significant level of resistance above the $1,255 level," Saxo Bank senior manager Ole Hansen said


Gold falls on strong dollar, growth hope