BENGALURU — Gold edged up on Thursday as the US dollar weakened in the wake of an oil producer agreement to curb output.Division between Federal Reserve policy makers on when to raise US interest rates has sapped investor enthusiasm for trading on comments by officials from the central bank."The gold and dollar markets are currently without very strong direction. The mixed views from US Fed officials have weakened their credibility and the market has stopped buying [on] their comments," said Jiang Shu, chief analyst at Shandong Gold Group."For now, we can see gold move in the band of $1,300-$1,350."Spot gold had risen 0.3% to $1,325/oz by3.45am GMT. US gold futures were up 0.4% at $1,328.60/oz.Oil cartel Opec on Wednesday agreed modest oil output cuts in the first such deal since 2008, with the group’s leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low crude prices. Oil futures extended gains on Thursday after rising nearly 6% the day before ...
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