Gold inches up from eight-week low as dollar weakens GLOBAL-PRECIOUS
Spot gold was up 0.2 percent at $1,220.56 per ounce by 0316 GMT. It hit an eight-week low of $1,213.81 on Tuesday. U.S. gold futures also gained 0.2 percent, to $1,220.70 an ounce.
Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.
* Gold trading range for the day is 27809-28255.
* Gold dropped sliding to the lowest level in around eight weeks amid fading demand for safe-haven assets.
* Sentiments dropped in bullion as uncertainty over the French election came to end on Sunday, following Emmanuel Macron’s victory