Gold prices edge higher as dollar retreats from 2018 peak
Higher U.S. interest rates, possibly in June at the Federal Reserve`s next meeting, will weigh on gold, but analysts say they are unlikely to push gold significantly lower. "Over the short term, and particularly during May, we see gold trading between $1,285 and $1,338 an ounce as continued strength in the dollar and rising rates pressure values lower," said INTL FCStone analyst Edward Meir.
Gold prices edged higher on Monday as the dollar retreated from a 2018 peak after subdued U.S. inflation data last week highlighted the prospect of fewer U.S. interest rate increases than previously expected this year. Image source: Reuters