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Gold $2,303.79 $(15.77) -0.68% Silver $28.97 $(0.63) -2.13% Platinum $955.02 $(3.61) -0.38% Palladium $894.32 $(8.7) -0.96%

Gold drops on hopes for US debt-limit deal, chances of early rate cuts recede

Gold drops on hopes for US debt-limit deal, chances of early rate cuts recede

May 18 (Reuters) - The price of gold slipped on Thursday as signs that a deal to raise the U.S. debt ceiling could be reached in Washington reduced its safe haven appeal. Fading expectations for early U.S. rate cuts also took the shine off non-yielding bullion.

Spot gold fell 0.3% to $1,976.09 per ounce by 1106 GMT, earlier going as low as $1,971.99, its lowest since April 21...[LINK]

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