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Gold falls on profit-taking and dollar rally

UNITED STATES, WASHINGTON (OBSERVATORY) — Gold prices fell on Wednesday as the dollar rallied and investors took profit-taking sales following gains of more than 1 percent in the previous session, but the uncertainty surrounding the US-China trade dispute and global growth kept the precious metal near multi-year highs.

Spot gold fell 0.1 percent to $ 1,541.60 an ounce late in the session. In Monday’s session, gold hit its highest level since April 2013 at $ 1554.56.

US gold futures fell 0.2 percent to settle at $ 1,549.10 an ounce.

The dollar index rose 0.2 percent, making gold more expensive for holders of other currencies.

Among other precious metals, silver rose 1.2 percent to $ 18.38 an ounce, while platinum rose 4.8 percent to $ 907 an ounce. Palladium fell 0.8 percent to $ 1,469.60 an ounce.


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