Gold slips As Strong Dollar, Weak Oil Dulling Gold Appeal As a Hedge



Spot gold had slipped 0.2 percent to $1,200.26 an ounce by 0036 GMT. Gold jumped more than 1 percent on Monday on a brief surge of late-day technical buying as it breached the $1,200-per-ounce level long after the U.S. dollar dropped from a more than five-year high. But the dollar recovered on Tuesday and was higher against a basket of major currencies. Strong US data and higher rates could provide a further boost to the dollar and hurt non-interest-bearing bullion.

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