Bengaluru — Gold prices held steady on Thursday as investors awaited more details on US President Donald Trump’s proposed steel and aluminium tariffs, the outcome of the European Central Bank’s (ECB’s) policy meeting, and US jobs data. Spot gold rose 0.2% to $1,327.48/oz by 3.09am GMT. It hit a one-week high on Wednesday at $1,340.42, before closing at $1,325.49/oz. US gold futures were mostly unchanged at $1,32.20. "We see gold as a good hedge against rising equity market volatility and heightened political risks around trade tariffs, the Nafta deal and North Korea," ANZ analysts said in a note. Asian shares found some relief on Thursday as the fear about a global trade war amid Trump’s push to introduce protectionist tariffs was tempered by signs that the move could include carve-outs for key partners. The White House said late Wednesday that Canada, Mexico and possibly other countries may be exempted at least for a while from the proposed steel and aluminium tariffs. Trump is exp...
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