Gold slips amid dollar turbulence
Gold lost ground Wednesday amid US dollar turbulence.
The yellow metal ended down US$10.95 at US$1,178.55/oz in London from the previous day's seven-week high, with silver hitting a four-week high of US$16.79/oz, up 12.5 cents.
The greenback gained about a cent to a one-week high of 95.5 euro cents, before sliding back to 94.5 euro cents.
BULLISH START
Gold has had a positive start to the year, up almost US$30 despite the day's decline.
"Bargain buying in the cash market and short sellers in the futures market liquidating their positions are lifting the yellow metal," Kitco's Jim Wyckoff said.
"There has also been better demand recently for physical gold coming out of China and India," he said.
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