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Gold prices up as dollar slips, hints of pause in rate hike cycle by Fed

US gold futures were 0.2% higher at $1,251.4 per ounce

Reuters  |  Bengaluru 

Gold prices edged higher on Tuesday, supported by hopes that the U.S. Federal Reserve could pause its rate hike cycle sooner than expected and as the dollar slipped after the previous session's rally. Spot gold was up 0.2per cent at $1,247.26 per ounce, as of 0719 GMT. It touched its highest in nearly five months at $1,250.55 in the prior session. U.S. gold futures were 0.2 per cent higher at $1,252.1 per ounce. "Weakening U.S. dollar outlook and very dovish pivots from the Fed, a lot of uncertainty boxed around equity markets... It can still turn quite ...

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First Published: Tue, December 11 2018. 13:04 IST
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