MTECHTIPS:-Gold Prices Hold Onto Gains on Softer Dollar

MTECHTIPS:-Gold Prices Hold Onto Gains on Softer Dollar

MTECHTIPS-Gold prices held onto gains on Wednesday, as caution returned to markets amid lingering fears over tensions between the U.S. and North Korea and as the U.S. dollar moved lower. Comex gold futures was up $4.82 or about 0.36% at $1,337.41 a troy ounce by 08:35 a.m. ET (12:35 GMT). Market sentiment was mildly supported as Hurricane Irma appeared to have caused less damage than feared and in the absence of any new provocations from North Korea. Irma, which had hammered the Caribbean late last week and was one of the most powerful Atlantic hurricanes, weakened to a tropical depression, easing concerns over the severity of its financial impact. Market participants seemed to shrug off North Korea’s rejection of sanctions imposed by the U.N. Security Council. The Security Council voted unanimously on Monday to step up sanctions on the peninsula, in response to its sixth nuclear test. However, U.S. President Donald Trump said Tuesday that the U.N. sanctions were a “very small step” and “nothing compared to ultimately what will have to happen” to combat the regime’s nuclear program. The precious metal also benefited from a weaker U.S. dollar on Wednesday after data showed that U.S. producer price inflation and its core reading increased less than expected in August

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