MTECHTIPS:-Gold Dips In Asia In Light New Year Trade With Focus On

MTECHTIPS:-Gold Dips In Asia In Light New Year Trade With Focus On Fed Minutes

MTECHTIPS-Gold eased slightly in Asia on Tuesday in light trade with Tokyo markets shut and the focus ahead on the Fed minutes later this week. Gold futures for February delivery slipped 0.04% to $1,308.80 a troy ounce on the Comex division of the New York Mercantile Exchange. Market watchers will also focus on Wednesday’s minutes of the Fed’s December policy meeting for further hints on the future path of monetary policy. Last week, a weaker dollar helped propel gold prices to a three-month high back above the $1,300 level on Friday in the final trading day of 2017. For the year, the precious metal gained 14%, the largest yearly percentage gain since 2010. Recent weakness in the dollar has supported gold prices by making the dollar-denominated metal cheaper for holders of other currencies. The dollar fell to its lowest levels in more than three months against a basket of the other major currencies on Friday and posted its largest annual percentage decline since 2003. The index started 2017 at a 14-year high, boosted by hopes for U.S. President Donald Trump’s pro-growth economic agenda. But barring a sweeping tax overhaul enacted last week, the Trump administration has struggled to pass legislation

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