Gold Edged Lower As Renewed Expectations Of An Increase In U.S.

Gold trading range for the day is 28980-29490. Gold edged lower as renewed expectations of an increase in U.S. interest rates next month pushed the dollar higher.

Fed’s Williams warned that the global drop in interest rates since the financial crisis is likely to persist and will make it harder for central banks to keep world economies healthy.

Investor demand for gold can be seen in SPDR Gold Trust, holdings of which have risen by more than 5 percent to 27.044 million ounces since Jan. 31.

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