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Gold under pressure as dollar turns positive

Reuters  |  JOHANNESBURG 

By Zandi ShabalalaJOHANNESBURG (Reuters) - Gold pared its gains on Tuesday after the U.S. dollar turned positive as investors awaited U.S. inflation figures later this week for further clues about the pace of interest rate rises.Spot gold was down 0.3 percent at $1,253.70 per ounce at 1445 GMT.U.S. gold futures fell 0.4 percent to $1,259.6 per ounce."Ahead of the U.S. inflation numbers gold will likely trade sideways until there's more direction," said Fawad Razaqzada, an analyst at FOREX.com.Inflation is a key economic factor the U.S. central bank considers when deciding monetary policy. A ...

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First Published: Tue, August 08 2017. 21:04 IST
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