Gold slips as Trump’s BRICS currency warning boosts US dollar

Gold eased, pressured by a rising US dollar after President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new currency.

Bullion traded around $2 635 an ounce in early Asia hours on Monday after declining almost 3% last week. Trump’s warning buoyed the dollar, with a stronger greenback making the precious metal more expensive for buyers in other currencies.