Bengaluru — Gold prices steadied above a four-month low on Monday, but lacked upward momentum as the expectation of higher interest rates in the US supported the dollar. Spot gold was nearly unchanged at $1,248.06/oz by 3.50am GMT, after hitting its lowest since July 26 at $1,243.71 on December 7. US gold futures were 0.1% higher at $1,250.20. The dollar was steady in early Asian trade, buoyed by stronger than expected US jobs data and the expectation of higher US interest rates. US employment data on Friday showed jobs increased in November, painting a portrait of a healthy economy that analysts say does not require the kind of fiscal stimulus that President Donald Trump is proposing, even though wage gains remain moderate. "Gold prices hovered around $1,250/oz as data in the US suggests the economy remains strong," ANZ analysts said in a note. "Expectations for a rate hike at this week’s FOMC [Federal open market committee] meeting weighed on investor appetite for gold," ANZ analy...
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