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Gold falls as rate hike views steady dollar

Updated : August 23, 2018 07:14 AM IST

Spot gold was down 0.3 percent at $1,191.87 an ounce at 0102 GMT, after hitting $1,201.51, its highest since Aug. 13 in the previous session.
The Fed has been raising rates gradually since 2015 and policymakers are now concerned the economy is so strong that inflation could rise persistently above the central bank's 2 percent target.
The dollar came under pressure on Wednesday as political pressure on President Trump increased with two of his former advisers facing possible prison sentences that could hurt his Republican Party's November midterm election prospects and widening a criminal investigation that has overshadowed his presidency.
Gold falls as rate hike views steady dollar
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