Bengaluru — Gold edged lower on Tuesday as the dollar steadied, with markets on edge ahead of a meeting this week that could see oil producers curb output. Spot gold was down 0.36% at $1,189.10/oz by 3.34am GMT. It gained 0.9% in the previous session. US gold futures were 0.2% lower at $1,188.50/oz. "People will probably be watching the Opec meeting. If the meeting leads to higher oil prices, that should have some inflationary pressure across the global economies, especially the US and that could lead to lower gold prices," said Barnabas Gan, analyst at OCBC Bank in Singapore. Oil prices fell early on Tuesday on doubts over a meaningful output cut during Wednesday’s meeting. Gold edged lower in early trade on a firm US dollar, said MKS Pamp Group trader Jason Cerisola. The dollar index, which measures the greenback against a basket of currencies, was steady at 101.390. Gold prices have fallen more than $140/oz from their post-US election peak on November 9 after a surge in US treasu...
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