FOX LIVE NEWS UPDATE

PRECIOUS-Gold prices edge higher as dollar eases against yen

Aug 2 (Reuters) – Gold prices rose on Thursday, recovering from the previous session’s fall, supported by a weaker dollar versus the Japanese yen in Asian trade.

Spot gold XAU= was up 0.2 percent at $1,218.23 an ounce, as of 0701 GMT, after losing 0.65 percent in the previous session.

U.S. gold futures GCcv1 were little changed at $1,226.70 an ounce.

“I think people are just watching the dollar. The dollar-yen is down and gold is up,” said Yuichi Ikemizu, Tokyo branch manager, ICBC Standard Bank said, adding that the latest headlines on the trade war front between the United States and China had likely induced some buying.

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