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Gold hits near four-month high as dollar slides on China report

Reuters  |  LONDON 

By Jan HarveyLONDON (Reuters) - Gold jumped to its highest in nearly four months on Wednesday as a report that Chinese officials had recommended slowing or halting U.S. Treasury purchases sparked a broad-based sell-off of the dollar, lifting assets priced in the U.S. currency.The dollar, already under pressure versus the yen after the Bank of Japan moved to trim its long-dated government bond purchases earlier this week, slid 0.6 percent versus a currency basket, its biggest one-day drop in a month. Spot gold was up 0.9 percent at $1,324.84 an ounce at 1211 GMT, having earlier touched its ...

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First Published: Wed, January 10 2018. 17:51 IST