Gold eased below a three-week high on Wednesday as the dollar regained some ground from the yen and equities climbed higher, but the metal remained a favourite amid uncertainties in the global economy and timing of a U.S. rate hike.
FUNDAMENTALS
* Spot gold eased 0.1 percent to $1,254.10 an ounce by 0041 GMT, following a 1.4 percent overnight rise.
* The metal jumped to a three-week high of $1,262.60 on Tuesday but pared some gains after the dollar strengthened.
* The U.S. dollar rebounded against the safe-haven yen a day after hitting its lowest level against the currency in roughly a year and a half on greater risk appetite from gains in equity and oil prices.
* Brent crude oil prices hit a four-month high and energy equities rose on Tuesday after reports of an agreement between two major producers to freeze output.
* The dollar has been on the back foot this year as investors scaled back expectations of rate hikes by the Federal Reserve, while concerns over global economic growth have hit equities.
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