Gold Inches Lower As Market Awaits Rate Hike Cues

Gold edged lower early Tuesday on a firmer dollar after touching near four-month lows in the previous session as the market waits for cues from the central bank on the path of U.S. interest rate hikes.

Spot gold fell 0.2 percent to $1,212.01 per ounce at 0043 GMT. It hit a low of $1,204.45 in the previous session, its lowest since March 15.

U.S. gold futures for August delivery rose 0.3 percent to $1,212.80 per ounce.

Traders were looking ahead to Wednesday and Thursday, when U.S. Federal Reserve Chair Janet Yellen will address Congress.

The U.S. dollar climbed to a two-month high against the yen on Monday and global equity markets rallied, lifted by robust economic data from Germany and renewed interest in U.S. technology stocks spurred by an Amazon online sale event. For More Information About Commodity Market Visit : www.paceresearchindia.com and Call : 8817774774