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Gold dips further from 3-1/2 month peak as dollar fights back

Reuters  |  LONDON 

By Jan HarveyLONDON (Reuters) - Gold dipped on Monday, retreating from last week's 3-1/2 month high as the dollar clawed back some ground against the buoyant euro and traders bet on further U.S. rate hikes this year after Friday's payrolls data. Dollar weakness, which continued into early January after it posted its biggest drop since 2003 last year, had helped lift assets priced in the U.S. currency, with gold posting a fourth straight weekly rise last week for the first time since April. Spot gold was down 0.1 percent at $1,318.31 an ounce at 1035 GMT, while U.S. gold futures for February ...

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First Published: Mon, January 08 2018. 16:32 IST