Gold steadies off two-week low as dollar rally loses steam

27-May (Reuters) – Gold steadied on Wednesday off the previous session’s two-week low as the dollar retreated after its biggest daily rise in two years, but prices remained under pressure from expectations that a U.S. rate increase may come soon.

Gold fell 1.7 percent on Tuesday, its biggest one-day drop this month, after firmer U.S. data supported the view that the Federal Reserve may raise interest rates this year.

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