HNI Commodity Pack, Gold inches up from 8-week low as dollar slips

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Gold on Wednesday edged up from an eight-week low hit in the last session as the dollar slipped after U.S. President Donald Trump fired FBI Director James Comey, but expectations of a U.S. interest rate hike in June kept bullion prices under pressure.  Spot gold was up 0.1 percent at $1,221.82 per ounce at 0105 GMT. It hit $1,213.81 an ounce on Tuesday, its lowest since March 15.

U.S. gold futures were up 0.5 percent at $1,221.80 an ounce. The dollar slid on Wednesday and the perceived safe-haven yen gained after U.S. President Donald Trump abruptly fired FBI Director James Comey in a move that shocked Washington. Also supporting bullion were rekindled fears that North Korea could be gearing up for another weapons test. In an interview with Sky News on Tuesday, Pyongyang’s ambassador to the United Kingdom, Choe Il, said North Korea is ready to conduct a sixth nuclear test.