Gold prices slip today as dollar firms amid US Fed rate hike view
Higher US interest rates tend to boost the dollar and push bond yields up, putting pressure on gold prices by increasing the opportunity cost of holding non-yielding bullion. Spot gold was down 0.5 percent at $1,186.29, as of 0748 GMT. In the previous session, gold touched its lowest since Aug. 17 at $1,180.34 an ounce.
Gold prices dipped on Monday as the dollar firmed against its peers in the wake of indications from the US Federal Reserve last week that it will pursue a tighter monetary policy. Image source: Reuters