2018.08.0808:13:00UTC+00Gold Prices Little Changed As Dollar Holds Gains

Gold prices are flat Wednesday morning, weighed down by steady equity markets and a fairly strong dollar.

With a couple of interest rate hikes this year by the Federal Reserve imminent and two more hikes very likely next year, outlook for the yellow metal remains somewhat uncertain for now.

Also, with corporate earnings turning out to be fairly encouraging, equity markets have been gaining in strength, despite persisting worries about trade war and its likely impact on global economic growth.

Gold futures for December are down $0.40, or 0.03%, at $1,217.90 an ounce.

On Tuesday, gold futures ended up $0.30, or less than 0.1%, at $1218.30 an ounce.

Silver futures for September are down $0.028, or 0.18%, at $15.345 an ounce.

The dollar index is up 0.16, or 0.17%, at 95.16.