Bengaluru— Gold prices held steady on Friday near three-and-a-half-month highs hit in the previous session amid the tempered expectation of a US rate hike in March and as investors awaited clarity on President Donald Trump’s economic policy. Spot gold was mostly unchanged at $1,249.37/oz at 3.26am GMT after hitting its highest since November 11, 2016 at $1,251.14 in the previous session. The metal has gained more than 1% so far this week. US gold futures were also firm at $1,250.80. "Thursday’s action showed us that gold bugs assumed that the US Federal Reserve will likely stand pat in March and may not move until much later," INTL FCStone analyst Edward Meir said. While many Fed policy makers said it may be appropriate to raise interest rates again "fairly soon", according to the minutes of the central bank’s last policy meeting, they also hinted at the depth of uncertainty at the bank over lack of clarity on the new administration’s economic programme. Investors were looking ahead...
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