Gold retreats from record peak as dollar firms – ZAWYA

Gold retreats from record peak as dollar firms – ZAWYA

Gold retreats from record peak as dollar firms Gold up 30% so far this year    A gold bar is pictured in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, August 14, 2019. Gold hit a record high on Monday as fears over the economic fallout from rising coronavirus cases bolstered its safe-haven appeal, before inching lower as an uptick in the dollar fuelled some profit-taking.Spot gold had eased 0.2% to $1,971.52 per ounce by 0952 GMT, after hitting a record high of $1,984.66 in early Asian trade. U.S. gold futures were 0.1% higher at $1,988."The dollar's correction from a two-year low is taking some shine off gold," independent analyst Ross Norman said. "We seem to be in a period of consolidation and we've seen some profit-taking."Spot gold had eased 0.2% to $1,971.52 per ounce by 0952 GMT, after hitting a record high of $1,984.66 in early Asian trade. U.S. gold futures were 0.1% higher at $1,988.Gold hit a record high on Monday as fears over the economic fallout from rising coronavirus cases bolstered its safe-haven appeal, before inching lower as an uptick in the dollar fuelled some profit-taking."The dollar's correction from a two-year