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Gold edges up ahead of G7, but dollar recovery caps gains

Reuters  |  LONDON 

By Jan HarveyLONDON (Reuters) - Gold firmed on Friday as a rise in risk aversion ahead of G7 talks this weekend lent support, but the metal remained hemmed within its narrowest weekly range in more than a decade as a recovery in the dollar kept a lid on gains. Expectations that the U.S. Federal Reserve will announce another rate increase next week are also weighing on gold. Higher rates lift the opportunity cost of investing in non-yielding assets such as bullion. Spot gold was up 0.1 percent at $1,297.95 an ounce at 1148 GMT, while U.S. gold futures for August delivery were down 70 cents at ...

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First Published: Fri, June 08 2018. 17:36 IST
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