Gold slips on strong dollar

BENGALURU, June 12 (Reuters): Gold prices edged lower on Tuesday as the dollar strengthened following a positive US-North Korea summit, with markets now waiting for a likely interest rate hike by the US Federal Reserve.

Spot gold was down 0.1 per cent at $1,297.96 per ounce at 0719 GMT and US gold futures for August delivery were 0.1-per cent lower at $1,301.90 per ounce.

"The dollar has been a big driver for some time now and investors are certainly taking more from that than from easing geopolitical risks in recent runs ... I suspect that will be the key driver for the short term," said ANZ analyst Daniel Hynes.