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Gold, silver slide to seven-month lows as dollar climbs

Reuters  |  NEW YORK/LONDON 

By Renita D. Young and Pratima DesaiNEW YORK/LONDON (Reuters) - Gold and silver prices slid to seven-month lows on Friday as the dollar rose to a two-week peak, buoyed by safe-haven purchases made in an ongoing U.S.-China tariff trade war. Demand for the precious metals also waned on expectations of higher U.S. interest rates.Spot gold lost 0.5 percent at $1,240.90 per ounce by 1:34 p.m. EDT (1734 GMT), after earlier falling to $1,236.58, its lowest since Dec. 12. U.S. gold futures settled down $5.40, or 0.4 percent, at $1,241.20 per ounce. Gold prices are down about 9 percent since ...

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First Published: Fri, July 13 2018. 23:50 IST
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