BENGALURU, Aug 27 (Reuters): Gold inched lower on Monday as the dollar recovered slightly, but losses were curbed by short-covering after the metal gained nearly 2.0 per cent in the last session amid market perception of a dovish stance on interest rates by the US Federal Reserve.
Spot gold was down 0.2 per cent at $1,203.67 per ounce at 0741 GMT.
It had climbed 1.7 per cent on Friday in its biggest one-day percentage gain since May 2017. US gold futures were down 0.2 per cent at $1,210.60 an ounce.
The dollar index, which tracks the greenback against a basket of six major currencies, was up 0.1 per cent.
It had fallen nearly 1.0 per cent in the previous session weighed down by comments from Fed Chair Jerome Powell, who signalled a gradual approach to interest rate hikes.
Gold eases as dollar firms
FE Team | Published: August 27, 2018 21:23:43
Gold eases as dollar firms
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