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Gold suffers worst run since October, approaches $1,200

A stronger dollar makes gold costlier for those with other currencies

Photo: Reuters
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Photo: Reuters

Ranjeetha Pakiam & Yuliya Fedorinova | Bloomberg Singapore | Moscow
Gold is sliding toward $1,200 an ounce in its longest losing run since October, as positive US economic figures reinforce expectations that yields on other investments will rise this year.
 
Bullion for immediate delivery fell 0.3 per cent to $1,204.14 an ounce by 9:40 am in London after touching the lowest level since February 1, according to Bloomberg generic pricing. It slid for a fourth day as yields on 10-year Treasuries gained for a ninth.
 
The precious metal has been hit by Federal Reserve officials including Chair Janet Yellen talking up the prospect of higher rates. Better-than-expected US

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