Gold prices firm as dollar slips from 14-year high

Gold rose on Wednesday, reversing earlier losses, as the U.S. dollar edged slightly lower from 14-year highs touched the previous day.

Spot gold was up 0.2 % at $1,134.26 an ounce by 0252 GMT. It fell 0.6% in the previous session. 

                        U.S. gold futures were 0.2% higher at $1,135.80 per ounce.


The dollar index, which measures the greenback against a basket of currencies, was down 0.2 % at 103.110. The index touched 103.65 on Tuesday, its highest since December 2002. 

"The steep dollar continues to pressure commodities including precious metals, especially gold. The precious metal faces a further downward pressure as it yields no interest in a world of likely rising interest rates and bond yields," said Mihir Kapadia, CEO of London-based Sun Global Investments Ltd. 

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