Gold Dips Below $1235 on Firmer U.S. Dollar

Gold dipped on Tuesday as an uptick in the dollar offset the supportive impact of concerns over Greece’s future in the euro zone and fears over escalating violence in Ukraine, which hurt risk appetite.

A 0.1 percent rise in the dollar against its currency basket led gold to stall after the previous day’s rise, preventing a steeper recovery from Friday’s three-week low.  Spot gold was down 0.4 percent at $1,234 an ounce, while U.S. gold futures for April delivery were down $9 an ounce also at $1,233.

Prices slid to $1,228.25 on Friday after upbeat U.S. jobs data fueled expectations that the Federal Reserve will raise interest rates this year, overriding concerns about the economic health of the euro zone, which lifted prices 8 percent last month.


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