Gold Falls Further as Rate Hike Views, Trade War Worries Buoy Dollar
Monday, 10 September 2018 16:44 WIB | PRECIOUS METALS |GOLDEMAS Spot Emas

Gold fell for a second straight session on Monday as expectations of an interest rate hike by the U.S. Federal Reserve in September and fears of an escalation in U.S.-China trade tensions kept the dollar firm.

Spot gold was down 0.2 percent at $1,193.15 as of 06:55 GMT, having declined 0.4 percent in the previous session.

U.S. gold futures fell 0.2 percent to $1,198.60 an ounce.

While gold bulls are buying whenever there is a pull back to the low $1,190s, the general malaise for commodities, coupled with the stronger dollar, suggest sellers are emerging on the rallies, Innes said.

Spot gold may revisit its Sept. 4 low of $1,189.20 per ounce, according to Reuters technical analyst Wang Tao.

Among other precious metals, spot silver was up 0.1 percent at $14.12.

Source : CNBC

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