Bengaluru — Gold prices on Thursday held below a three-week peak hit in the previous session, as the dollar recovered from seven-week lows and markets looked to see if US President Donald Trump could push through a healthcare bill. Spot gold was down 0.2% at $1,246.51/oz at 3.53am GMT. On Wednesday, it touched its strongest since February 28 at $1,251.26. US gold futures were down 0.3% at $1,246.5. "There is a strong technical resistance at $1,250 and that seems to have been felt strongly at this juncture," OCBC analyst Barnabas Gan said. Spot gold could retrace to a support at $1,237/oz, following its failure to break a resistance zone of $1,247/oz-$1,254/oz, said Reuters technical analyst Wang Tao. However, Gan pointed to the effect of sustained political issues in Europe and the US. "This kind of uncertainty does lift gold prices," he said. The immediate focus is on whether Trump can gather enough support in a vote as early as Thursday to pass a bill to roll back Obamacare, a fir...
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