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Gold steadies after rate hike sell-off

Reuters  |  LONDON 

By Peter HobsonLONDON (Reuters) - Gold inched higher on Friday as investors judged that a sell-off sparked by a rise in U.S. interest rates this week had run its course and the dollar weakened, making bullion cheaper for holders of other currencies.Spot gold was up 0.1 percent at $1,254.66 an ounce by 1411 GMT, having earlier hit $1,251.05, its lowest since May 24. U.S. gold futures gained 0.1 percent to $1,256.4.Gold was on track for a second weekly loss and has fallen more than 3 percent from a high of $1,295.97 on June 6 as investors braced for the U.S. Federal Reserve to raise interest ...

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First Published: Fri, June 16 2017. 20:53 IST