Gold retreats from late 2016 highs on dollar recovery
"Regardless of Trump, the main story for gold is negative interest rates in the U.S. We are not expecting the Fed to raise rates in March and it`s just going to be two hikes and that`s roughly priced in to the market," said Dominic Schnider of UBS Wealth Management in Hong Kong.
Spot gold was down 0.4% at $1,212.6 an ounce from an earlier high at $1,219.59. U.S. gold futures slipped 0.2% to $1,213. Photo: Reuters