Bengaluru — Gold prices held steady after dipping slightly earlier in the session on Friday as Asian stocks eased following an extension of output curbs by Opec and other producing nations that left investors hoping for bigger cuts disappointed. Oil markets remained weak on Friday, after tumbling 5% in the previous session. Spot gold was up 0.1% at $1,257.01/oz by 4.11am GMT. The metal is almost flat for the week. US gold futures gained 0.1% to $1,257.2%. "The risk of a rate hike by the US Federal Reserve in June is still sort of hanging over the market, while a broader weakness in some industrial commodities and oil was probably a factor [for a slight weakness in gold this morning]," said Jordan Eliseo, chief economist at ABC Bullion. The big data points for the day though would be the first-quarter GDP figures from the US as well as the durable goods figures, he added. Spot gold was biased to test a resistance at $1,264/oz, a break below which could lead to a gain to the next resi...
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