Pandit Ji Live Gold News Forecast; Gold firm as risk sentiment takes backseat; strong dollar caps gains:

Spot gold was steady at $1,286.49 per ounce, as of 0341 GMT. U.S. gold futures were down 0.1 percent at $1,287.

Gold prices steadied on Thursday as lacklustre appetite for riskier assets offered some support to the safe-haven metal, while firm dollar limited gains ahead of European Central Bank’s (ECB) policy meeting due later in the day.

Spot gold was steady at $1,286.49 per ounce, as of 0341 GMT. U.S. gold futures were down 0.1 percent at $1,287.

The dollar index, which tracks the greenback against major currencies, was holding near its more than two-week high posted earlier in the week.

“There is some support for safe haven assets. Equities in Asia have given up the gains and that reflects the pressure we are seeing on risk assets,” said Michael McCarthy, chief market strategist at CMC Markets, adding, strong dollar is limiting gains.

Leave a Reply

Your email address will not be published.