London — Gold steadied on Thursday after suffering its biggest fall in more than a month in the previous session on Federal Reserve chair Janet Yellen’s indication that the US central bank would press ahead with interest rate increases. Gold fell by 1.1% on Wednesday, the most since December 15, after Yellen’s remarks lifted the dollar by as much as 2 percent, making gold more expensive for holders of other currencies. US bond yields, meanwhile, rose to their highest since Jan. 9, reducing the attraction of non-yielding bullion. Spot gold continued to fall in early trading on Thursday, touching a low of $1,197.3 an ounce before recovering to $1,204.40 at 1317 GMT, up 0.1% on the day. "Some people will have been short and are maybe taking profit on those positions. Other perhaps see a dip below $1,200 as an opportunity to buy," said Tom Kendall at ICBC Standard Bank. The dollar also slipped back from Wednesday’s highs, helping gold to recover. US gold futures were down 0.6% at $1,204...
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