PT: Gold trades below six-week high as dlr, rates outlook weighed
London, Dec 10 (Bloomberg) Gold fell from a six-week high as investors weighed expectations for rising US interest rates against a weaker dollar.
Gold slipped 0.4 per cent to USD 1,226.33 an ounce.
Yesterday, it reached USD 1,238.32, the highest price since October 23, as a weaker dollar and global stock markets spurred demand for a store of wealth.
Silver fell 0.4 per cent to USD 17.00 an ounce.
Meanwhile, the Bloomberg dollar spot index slipped for the third day after reaching a five-year high this week.
The Federal Reserve meets next week as policy makers debate the timing of the first interest-rate increase in eight years. Rising rates cut gold?s allure because bullion generally offers investors returns only through price gains, while the precious metal typically moves inversely to the greenback.
