Gold
futures traded little changed below a two-week high as investors
weighed expectations for higher U.S. interest rates against signs of
more physical buying.
The
Bloomberg Dollar Spot Index traded near a five-year high on the outlook
for Japan to extend a stimulus program and after minutes of the Federal
Reserves Oct. 28-29 meeting showed the U.S. moving toward higher
interest rates. Higher borrowing costs cut the allure of the metal which
generally offers investors returns through rising prices and which is
sometimes bought as an inflation hedge.
Gold
for December delivery was little changed at $1,192.20 an ounce by 7:14
a.m. on the Comex in New York. Prices, which reached a three-day low
yesterday, touched a two-week high of $1,204.10 on Nov. 18. Bullion for
immediate delivery rose 0.8 percent to $1,192.44 in London, according to
Bloomberg generic pricing.
Source : Bloomberg
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