November 25, 2016
Gold Subdued on Strong Dollar, Fed Rate Hike Prospects
(Reuters) - Gold on Friday held on to losses from the previous session as a strong U.S. dollar and Federal Reserve rate hike expectations weighed heavily on the metal.
Spot gold was down 0.1 percent at $1,182.28 an ounce by 0040 GMT. In the previous session, the metal shed nearly 0.4 percent.
Gold fell to $1,180.99 in the previous session, its lowest since Feb 10.
U.S. gold futures fell 0.6 percent to $1,181.8 per ounce.
The dollar index, which measures the greenback against a basket of currencies, was up 0.1 percent at 101.790.
The dollar surged to a near 14-year high before pulling back on Thursday, clocking up records against a range of other top world currencies and skittling emerging markets.
The European Central Bank sees rising risks to euro zone financial stability and is watching for any fallout from Italy's constitutional referendum next month, ECB Vice President Vitor Constancio said on Thursday.
Top consumer China's net gold imports via main conduit Hong Kong rose 15.8 percent in October to the highest in three months, data showed on Thursday, as the metal touched a four-month low during that month.