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Gold slips on solid dollar, Fed rate climbs remarks

Gold costs, ease on Friday after touching their least in more than five months the session before, dragged down by a stronger US dollar and after Federal Reserve Chair Janet Yellen supported the case for raising interest rates one month from now.

Essentials

mcx free tips* Spot gold had slipped 0.2 percent to USD1,213.75 an ounce by 0036 GMT. In the past session, it denoted its most minimum since June 3 at USD1,210.73, staying on track for its second in a row week by week decrease.

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* US gold future was down 0.3 percent at USD1,213.40 per ounce.

* The SPDR Gold Trust, the world’s biggest gold-backed exchange-traded fund, said its holding fell 0.61 percent to 920.63 tons on Thursday from 926.26 tons on Wednesday.

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