Gold fell from a six-week high as investors weighed expectations for rising US interest rates against a weaker dollar. Gold slipped 0.4 per cent to $1,226.33 an ounce. On Tuesday, it reached $1,238.32, the highest price since October 23, as a weaker dollar and global stock markets spurred demand for a store of wealth.
Silver fell 0.4 per cent to $17.00 an ounce.Meanwhile, the Bloomberg dollar spot index slipped for the third day after reaching a five-year high this week. The Federal Reserve meets next week as policy makers debate the timing of the first interest-rate increase in eight years. Rising rates cut gold’s allure because bullion generally offers investors returns only through price gains, while the precious metal typically moves inversely to the greenback.