Gold prices fall as dollar holds firm

| Updated: October 21, 2017 22:26:07

Gold prices fall as dollar holds firm

Gold prices touched the lowest in more than one week on Thursday, as the dollar stood firm on rising US Treasury yields.

Spot gold was down 0.2 per cent at $1,277.86 an ounce as of 0347 GMT after earlier hitting its lowest since Oct. 9 at $1,276.44.

The dollar hit its highest in about two weeks versus the yen, reports Reuters.

US gold futures for December delivery fell 0.3 per cent to $1,279.80 per ounce.

Spot gold may drop more to $1,263 per ounce, as it has cleared a support at $1,281, Reuters technicals analyst Wang Tao said.

In other precious metals, silver slipped 0.2 per cent to $16.94 an ounce, while platinum fell 0.4 per cent to $914.50 an ounce and palladium was up 0.8 per cent at $960.10 an ounce.

Platinum and palladium hit one-week lows earlier in the session.

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