Bengaluru — Gold prices held steady on Wednesday, not far from the more than two-week highs hit in the previous session, as the dollar crept up from multi-month lows even as the fading prospect of a US monetary tightening continued to pressure the greenback. The dollar stayed on the defensive and remained close to more than 10-month lows as investors wagered any further tightening in the US would be slow at best, while optimism on China’s economy underpinned Asian shares and commodities. "We still remain somewhat neutral on gold this year despite a rather good run of late," said Edward Meir, analyst at INTL FCStone. "Still, we are not overly bearish on the precious metal at the stage either, as the backdrop of a falling dollar is too difficult to ignore." Also weighing on the dollar was the collapse of Republican efforts to overhaul or repeal Obamacare in the US Senate on Tuesday, dealing a sharp setback to Trump and the Republican Party’s seven-year quest to kill former President B...
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