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Gold retreats as Syria strike fears fade

Reuters  |  LONDON 

By Jan HarveyLONDON (Reuters) - Gold retreated on Monday, surrendering gains made in earlier trade on the back on this weekend's air strikes on Syria, as financial markets wagered the latest U.S.-led intervention would not escalate into a wider conflict.A softer tone to the dollar kept the metal firmly underpinned, however. Prices have trended sideways since January, buoyed by geopolitical worries but capped by expectations for further U.S. interest rate hikes and strong technical resistance at $1,360-$1,365 an ounce - their January, February and April highs.Spot gold was at $1,342.62 an ...

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First Published: Mon, April 16 2018. 17:15 IST
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