World Economy

Gold Dips

Gold DipsGold Dips

Gold dipped for a second session on Wednesday as global equities and the dollar rose after strong US manufacturing data that rekindled speculation of a Federal Reserve interest rate hike this year, Reuters reported. Spot gold slipped 0.2% to $1,230 an ounce after dropping 0.5% in the previous session. Gold has gained 16% so far this year as turmoil in equity markets and concerns over the global economy triggered speculation that the Fed will not raise US interest rates any further this year. The US central bank hiked rates for the first time in nearly a decade in December.