Gold prices fall in Asia as dollar gains deter, Safe-haven demand eases…
Gold prices fell in Asia as investors noted a stronger dollar and less appetite for safe-haven plays weighed on sentiment and as physical demand in India for the holiday season has failed to lift the futures market. Overnight, gold prices held above $1300 on Monday shrugging off an uptick in the dollar and treasury yields as safe-haven demand remained steady amid ongoing geopolitical uncertainty and concerns over the pace of U.S. interest rate hikes. On the heels of snapping a four-week losing streak, gold prices made a subdued start to the week trading in a narrow $6 range amid a lack of top-tier economic data release. Ongoing tensions over Iran, however, limited downside momentum in the precious metal while concerns over the pace of interest rate hikes beyond the widely expected year-end December rate hike strengthened sentiment on gold prices.
(Source: Investing)
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