Gold prices dip as dollar rises to pandemic high

By Reuters

Gold prices fell on Wednesday as the dollar consolidated at its highest level in more than two years and pressured demand for greenback-priced bullion. Spot gold was down 0.4% at $1,898.48 per ounce, as of 0353 GMT. “So, $1,900 is clearly a pivotal level for today's session … looking further out, it's not looking ideal at the moment with the U.S. dollar at a 25-month high,” trading firm City Index's senior market analyst Matt Simpson said.

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