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Gold slips as fading expectations of sharp rate cut lift dollar
Tuesday, 9 July 2019 09:00 WIB | PRECIOUS METALS |GOLDEMAS Spot Emas

Gold prices fell on Tuesday as the dollar held near multi-week highs after investors reduced bets on an aggressive U.S. interest rate cut this month.

Spot gold was down 0.3% at $1,391.65 per ounce at 01:18 GMT.

U.S. gold futures slipped 0.4% to $1,395.10 an ounce.

The dollar index was hovering near a three-week high on Tuesday after investors rolled back expectations for a sharp U.S. rate cut at the end of July.

Money market futures are still fully pricing in a 25 basis point cut at the Federal Reserve's next policy meeting on July 30-31, but have almost priced out a larger 50 basis point reduction.

Source : Reuters

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