Gold Prices Lower as U.S. Dollar Steadies

Gold Prices Lower as U.S. Dollar Steadies

Gold prices fell early Tuesday on the basis of a stronger US dollar ahead of Federal Reserve Chairman Janet Yellin’s speech scheduled for later in the day. More than 1 per cent also rose over geopolitical tensions on the Korean peninsula.

Comex gold futures were down $8.92 or about 0.69% at $1,302.60 a troy ounce.

Spot gold fell 0.1 per cent to $1,308.90 per ounce. In the previous session, it rose over 1 per cent to register its biggest intra-day per centage gain since Sept. 7.

President Janet Yellin will receive a speech entitled “Inflation, Uncertainty and Monetary Policy” at the annual meeting of the National Association of Business Economics in Cleveland at 12:45 GMT (1645 GMT) on Tuesday.

Their comments will be monitored closely for any new look at the policy. Last week, the US central bank announced that it will begin to reduce the assets of $ 4.5 trillion, and noted that it is likely to raise interest rates this year.

The US dollar rose after Federal Reserve Chairman William Dadley said on Monday that the Fed is on track to gradually raise interest rates as factors leading to inflation are “fading” and fundamentals of the US economy are sound.

Angela Merkel, the German difficult task of trying to build a government on Monday began after he got the fourth position as an adviser and urged leftist Social Democrats not to close the door to the big re-fractious.

President Donald Trump has declared war on North Korea and Pyongyang has reserved the right to take countermeasures, including dropping US launchers even if they are not in airspace, North Korea’s foreign minister said Monday.

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