Gold gains some ground, but rate hike views weigh on market
Updated : August 29, 2018 10:20 AM IST
Prices hit their highest since Aug. 10 at $1,214.28 on Tuesday, but closed 0.8 percent lower as US Treasuries rose after the United States and Mexico struck a trade deal.
Gold has lost its appeal as a safe-haven asset, having fallen 7.5 percent this year, amid international trade disputes and the Turkish currency crisis, with investors increasingly turning to the dollar instead.
The dollar was stuck in a tight range on Wednesday after touching a four-week low overnight as optimism over the US-Mexico trade deal gave way to caution ahead of an upcoming deadline in the Sino-US trade dispute.