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Gold hovers near four-month low, undermined by firm dollar

Reuters  |  LONDON 

By Pratima DesaiLONDON (Reuters) - Gold prices hovered near four-month lows on Tuesday and the dollar held firm on expectations of tighter U.S. monetary policy as the market awaited a speech from Federal Reserve Chair Janet Yellen this week.Spot gold was down 0.2 percent at $1,212.09 an ounce at 1346 GMT, near Monday's $1,204.45, its lowest since March 15. U.S. gold futures slipped 0.2 percent to $1,211.1 an ounce.A higher U.S. currency makes dollar-denominated commodities more expensive for holders of other currencies, which could subdue demand."The recent drop in gold to a large extent ...

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First Published: Tue, July 11 2017. 19:24 IST