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Gold hits 4-week low on firm dollar, Brexit talks lend support

Reuters  |  LONDON 

By Pratima DesaiLONDON (Reuters) - Gold hit four-week lows on Monday as the dollar rose after hawkish comments from a top Fed official, but prices were supported by uncertainty created by the start of talks on the terms of Britain's departure from the European Union.Spot gold was down 0.3 percent at $1,248.7 an ounce at 1338 GMT, up from an earlier $1,247.41, its lowest since May 24. U.S. gold futures fell 0.4 percent to $1,251.6.New York Federal Reserve President William Dudley said U.S. inflation is a little low but should rise alongside wages as the labour market improves, allowing the Fed ...

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First Published: Mon, June 19 2017. 21:56 IST
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