Gold up, waiting for clues on timing of US rate rise
Gold prices rose on Wednesday as the dollar slipped against a basket of currencies, with the market waiting for clues on the timing of a rise in U.S. interest rates.
Spot gold was trading up 0.3% at $1,322.55 an ounce at 1402 GMT. It touched $1,315.27 on Tuesday, the lowest in more than a week. U.S. gold futures were up 0.2% at $1,326.90 an ounce.
Expectations that the U.S. Federal Reserve will raise rates next week have receded, putting pressure on the dollar, which when it falls makes gold cheaper for holders of other currencies.
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