Gold attempts rebound after back-to-back declines

MarketWatch/Rachel Koning Beals/05-25-17

Gold edged higher Thursday, after back-to-back losses, as a closely followed dollar index stalled. But gains could be limited in the lead-up to what’s widely expected to be another Federal Reserve interest-rate hike next month.

…“Traders made much of voting members saying it is ‘prudent to await evidence [that the first-quarter] slowdown is transitory,’ brushing off an otherwise familiar cautiously hawkish tone,” said Ilya Spivak, commodities and currency strategist with Daily FX. “The U.S. dollar dropped alongside front-end Treasury bond yields, boosting the appeal of anti-fiat and non-interest-bearing assets” including gold.

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