Bengaluru — Gold prices were steady on Tuesday as the US dollar remained on the back foot, with the metal supported by festering concern about US-China trade tension. Spot gold was unchanged at $1,345.62/oz as of 3.22am GMT. "Despite a quietening of negative headlines overnight, its unlikely we’ve seen the last of China trade tensions or a weaker US dollar for that fact. All of which continues to provide the most apparent reasons to own gold," said Stephen Innes, head of trading for Asia-Pacific for Oanda in Singapore. Against the yen, the dollar was down 0.1% at ¥107.03, off its seven-week high of ¥107.78 touched on Friday as traders braced for a meeting between US President Donald Trump and Japanese Prime Minister Shinzo Abe starting on Tuesday. The dollar index, which measures the greenback against a basket of currencies, also eased to 89.371 earlier, following a 0.4% fall on Monday. Meanwhile, the likelihood that there would be no immediate military escalation in Syria following...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.