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PRECIOUS-Gold prices slip as dollar firms amid Fed rate hike view

Oct 1 (Reuters) - Gold prices dipped on Monday as the dollar firmed against its peers in the wake of indications from the U.S. Federal Reserve last week that it will pursue a tighter monetary policy.

The Fed raised U.S. interest rates last week and said it planned four more increases by the end of 2019 and another in 2020, amid steady economic growth and a strong job market. U.S. interest rates tend to boost the dollar and push bond yields up, putting pressure on gold prices by increasing the opportunity cost of holding non-yielding bullion.

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