Saturday, 21 April 2018 02:22 GMT

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

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