Gold edges lower as rising oil and dollar pressure prices
Gold fell 0.4% as rising oil and a firmer dollar weighed on prices. Investors monitored hot inflation data and trade talks between Donald Trump and Xi Jinping.
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Gold fell 0.4% to $4,669.48 per ounce on May 14 after oil prices and the dollar strengthened. Prices dropped as geopolitical tensions in the Middle East fueled expectations for prolonged high interest rates in the United States. Higher rates increase the opportunity cost of holding non-yielding bullion, dampening investor appetite for precious metals.
