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Gold firms as dollar retreats from 2018 peak

Reuters  |  LONDON 

By Pratima DesaiLONDON (Reuters) - Gold prices edged higher on Monday as the dollar retreated from a 2018 peak after subdued U.S. inflation data last week highlighted the prospect of fewer U.S. interest rate increases than previously expected this year.Spot gold was up 0.1 percent at $1,318.9 an ounce at 1252 GMT, having touched $1,325.96 on Friday, its highest since April 26. U.S. gold futures were down 0.1 percent at $1,318.8.A weaker U.S. currency makes dollar-denominated gold cheaper for holders of other currencies -- a relationship used by funds to generate buy and sell signals. ...

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First Published: Tue, May 15 2018. 00:27 IST