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Gold hovers near two-week low on strong dollar ahead of Fed minutes
Wednesday, 22 May 2019 11:38 WIB | PRECIOUS METALS |GOLDEMAS

Gold edged lower on Wednesday to hover near a two-week low, as a stronger dollar and signs of easing Sino-U.S. friction dented demand for bullion ahead of the minutes from U.S. Federal Reserve™s latest meeting.

Spot gold edged 0.1% lower to $1,273.70 per ounce at 0239 GMT. In the previous session, the metal fell to $1,268.97, its lowest since May 3.

U.S. gold futures were unchanged at $1,273.30 an ounce.

The dollar hovered near a four-week high supported by higher U.S. yields, which rose overnight after the United States eased trade restrictions on Chinese telecommunications equipment maker Huawei Technologies.

Among other precious metals, silver was steady at $14.44 per ounce.

Platinum was unchanged at $813.80 per ounce, while palladium edged up 0.1% to $1,320.50 per ounce.

Source: CNBC

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