Global Markets-Gold topples off record high, dollar gets respite – ZAWYA

Global Markets-Gold topples off record high, dollar gets respite – ZAWYA

Global Markets-Gold topples off record high, dollar gets respite Dollar steadies near two-year lows, breaks major chart support    A gold bar is pictured in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, August 14, 2019. LONDON - Gold hit a record high on Tuesday before the sheer scale of its gains drew a burst of profit-taking, which in turn helped the dollar up from two-year lows and kept equity markets subdued.The precious metal had risen by almost $40 at one point to reach $1,980 an ounce only for a wave of selling to suck it back down as far as $1,915.Gold is still up over $125 in little more than a week as investors bet the Federal Reserve will reaffirm its super- accommodative policies at its meeting this week, and perhaps signal a tolerance for higher inflation in the long run.The precious metal had risen by almost $40 at one point to reach $1,980 an ounce only for a wave of selling to suck it back down as far as $1,915.LONDON - Gold hit a record high on Tuesday before the sheer scale of its gains drew a burst of profit-taking, which in