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Gold hits two-week high on dollar weakness, trade worries

Reuters  |  BENGALURU 

By Karen RodriguesBENGALURU (Reuters) - Gold hit a two-week high on Thursday, supported by a weaker dollar and trade worries between Washington and Beijing, even as the U.S. Federal Reserve forecast a slightly faster pace of interest rate hikes this year.Spot gold rose 0.3 percent to $1,302.50 per ounce at 0744 GMT. It earlier hit a high of $1,303.38 an ounce, its best since May 31.U.S. gold futures for August delivery rose 0.4 percent to $1,306 per ounce.Dollar is under pressure, so gold is doing well this morning, a Hong Kong-based trader said.The dollar index, which measures the greenback ...

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First Published: Thu, June 14 2018. 13:28 IST