PRECIOUS-Gold eases as firm dollar, bond rally offset global slowdown worries [Reuters]
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Source: Reuters
PRECIOUS-Gold eases as firm dollar, bond rally offset global slowdown worries - Reuters 3 Min Read * SPDR Gold holdings rise 0.5% on Wednesday * Platinum falls to over 3-month lows (Adds comment, details and updates prices) By Sethuraman N R May 30 (Reuters) - Gold prices inched down on Thursday as bonds rallied and the dollar hovered near a two-year high, negating the support from an increasingly bitter Sino-U.S. trade dispute that rekindled doubts about global economic growth. Spot gold was down 0.1% at $1,277.71 per ounce, as of 0312 GMT. U.S. gold futures edged 0.3% lower to $1,276.70 an ounce. “Investors look like they prefer U.S Treasuries as a safe haven for now, evident by the inverted U.S yield curve,” Howie Lee, an economist at OCBC Bank, said. “A strong dollar is also likely impeding big players such as China and India from consuming too much (of gold).” The dollar held steady against its key rivals on Thursday as escalating Sino-U.S. trade tensions forced investors into th
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