Bengaluru — Gold prices held firm on Monday, below a three-and-a-half-month peak hit last week, amid expectations of further US interest rate hikes to come this year. Spot gold was mostly unchanged at $1,322.50 an ounce at 2.59am GMT. Last week, the metal touched its highest since September 15 at $1,325.86. Spot gold rose for a fourth straight week last week. US gold futures were also mostly unchanged on Monday, at $1,321.50 an ounce. "January is usually a good month for gold prices and should remain so on the anticipation of physical demand ahead of the Chinese New Year," said Stephen Innes, Asia Pacific trading head at Oanda. "While there could be some downside pressure from a possible dollar correction, gold will likely remain firm until a March Fed hike possibility comes on the radar," Innes said. The US December nonfarm payrolls report on Friday was weaker than expected, but investors reckoned the US Federal Reserve would still raise interest rates multiple times this year, alt...
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