Bengaluru — Gold prices edged up to touch a two-week high on Thursday amid firm underlying support and expectations of year-end purchases, with the dollar and stocks little changed in Asian trade. Spot gold was up 0.15% at $1,267.50/oz at 0407 GMT, after hitting its best since December 6 at $1,268.26 earlier. US gold futures were up 0.1% at $1,271/oz. "December is normally a good time to pick up gold. People are positioning for early January," a Hong Kong-based trader said. "It’s the seasonality of gold showing opportunity and having held $1,250 very well as we head into the year end." Gold had also been steady technically, he said, with support for the yellow metal at $1,260/oz and resistance at its 200-day moving average around $1,269. Asian stocks and the dollar were little changed on Thursday, despite better-than-expected US housing data on Wednesday and even as lawmakers in the US gave final approval to the biggest overhaul of the country’s tax code in 30 years. "The dollar is ...
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