London — Gold prices were steady on Wednesday as the concern about political turmoil in Italy and over a trade conflict between China and the US outweighed strength in the dollar. Italy kept the dollar at 10-month highs versus the euro amid the concern that repeat elections may become a de-facto referendum on Italian membership of the currency bloc. The turbulence underpinned gold due to its appeal as a store of value during political and financial uncertainty. The dollar index, which measures the greenback against a basket of six major currencies, hovered near its six-and-a-half-month peak from the previous session. A stronger dollar makes assets such as gold more expensive for holders of other currencies, curbing demand. "There has been a little bit of support from what has been happening in Italy and the potential implications for the eurozone from the Italian crisis," Capital Economics commodities economist Simona Gambarini said. "But it doesn’t seem like the worries are big eno...
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