The metal is weaker after strong US data boosts optimism around a global economic recovery
Gold bars are seen at the Austrian Gold and Silver Separating Plant 'Oegussa' in Vienna, Austria. File Picture: REUTERS/LEONHARD FOEGER
The dollar index bounced off two-year lows after US data showed manufacturing activity accelerated to a near two-year high in August. A stronger greenback makes gold expensive for holders of other currencies. Fed governor Lael Brainard on Tuesday said the US central bank would need to roll out more stimulus to fulfil its new promise of stronger job growth and higher inflation.
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