June 24 (Reuters) - Gold extended losses on Wednesday, as
bets on U.S. interest rate hikes lifted the dollar, while
investors assessed conflicting signals on the U.S.-Iran peace
talks.
FUNDAMENTALS
* Spot gold fell 0.5% to $4,087.68 per ounce by 0116
GMT, hitting its lowest level since June 11. U.S. gold futures
for August delivery declined 1.1% to $4,105.40.
* The dollar hit a more than one-year high, making bullion
more expensive for overseas buyers.
* U.S. President Donald Trump said on Tuesday that Iran had
agreed to nuclear inspections into "infinity," while Tehran said
it had made no such concession in negotiations, raising
questions about the viability of their fragile peace deal.
* Traders are pricing in three interest rate hikes from the
U.S. Federal Reserve this year, according to the CME FedWatch
Tool.
* Investors await the U.S. Personal Consumption Expenditures
data, the Fed's preferred inflation gauge, due on Thursday, for
further cues on monetary policy.
* Dubai's commodities exchange will launch a same-day
settlement gold contract, its CEO told Reuters, aiming to tap
safe-haven demand and faster trading infrastructure to boost
liquidity in the emirate's bullion market.
* Ghana's Gold Board is aligning its gold pricing regime
with internationally recognised LBMA benchmarks from July 1
while imposing strict caps on purchase prices to tighten market
discipline and curb irregular trading, it said on Tuesday.
* Spot silver fell 1.1% to $61.36 per ounce, platinum
lost 0.9% to $1,637.34, and palladium was down
1.2% at $1,223.29.
DATA/EVENTS (GMT)
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(Reporting by Pablo Sinha in Bengaluru; Editing by Subhranshu
Sahu)
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