Gold gains as dollar dips, but set for worst month since November 2016
Gold rose early Friday after slipping to a more than six-month low in the previous session, as the dollar retreated from recent highs amid a rising euro, but the yellow metal was on track for its worst month since November 2016.
Spot gold was 0.2 percent higher at $1,250.90 an ounce, as of 0502 GMT. On Thursday, it touched $1,245.32, its lowest since December 13, 2017.
“We’ve seen a pop up in euro which put a bit of pressure on dollar, so gold is being bought. I don’t think it is going to be long lived. Europe will come in and sell and dollar is probably still firm,” a Hong Kong-based trader said.
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