Gold edges down as dollar gains on Fed rate hike view

Reuters/Nithin ThomasPrasad/09-27-17

Gold inched lower on Wednesday, weighed down by a stronger dollar amid prospects for a December interest rate hike in the United States and ahead of the unveiling of a tax plan by Donald Trump’s administration.

…In the previous session, prices fell 1.3 percent in their biggest loss in over two weeks following comments by U.S. Federal Reserve Chair Janet Yellen that the central bank needed to continue gradual rate hikes despite broad uncertainty about the path of inflation

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