PRECIOUS-Gold slips as dollar gains on U.S. jobs data, political tensions underpin
March 15 (Reuters) – Gold prices dipped on Thursday, under pressure from a stronger U.S. dollar, although tensions between Britain and Russia limited the precious metal’s decline a day after it hit a one-week high.
The dollar rose versus a currency basket .DXY as traders, awaiting next week’s Federal Reserve meeting, eyed data that showed the number of Americans filing for unemployment benefits fell last week. FRX/
Moscow said it would retaliate against London’s move to expel 23 Russian diplomats over a nerve toxin attack on a Russian former double agent in Britain. gold XAU= was down 0.5 percent at $1,317.52 per ounce by 1:40 p.m. EST (1740 GMT), edging away from Wednesday’s one-week high, while U.S. gold futures GCcv1 for April delivery settled down $7.80, or 0.6 percent, at $1,317.80 per ounce.
“The headwinds gold faces are people starting to talk about the interest rate increase and the possibility of a fourth interest rate hike,” said Chris Gaffney, president of world markets at EverBank.
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