Gold holds near two-week low as dollar saps its strength

Bengaluru — Gold edged lower on Wednesday to hover near a two-week low, as a stronger dollar and signs of easing China-US friction dented demand for bullion ahead of the minutes from the US Federal Reserve’s latest meeting.

On Monday, the US commerce department granted Huawei a licence to buy US goods until August 19, a move intended to give telecom operators that rely on Huawei enough time to make alternative arrangements. On Monday, Fed chair Jerome Powell reiterated his unmoved demeanour, stating it was premature to ascertain the impact of trade and tariffs on monetary policy.

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