Bengaluru — Gold prices were steady in early Asian trade on Friday, amid renewed fear of a global trade war. A firm dollar and positive US economic data weighed on the market. Spot gold was nearly unchanged at $1,298.20 an ounce by 3.56am GMT, while US gold futures for June delivery were down 0.2% at $1,298/oz. Spot gold is down slightly this week. The dollar index, which measures the greenback against a basket of six major currencies, was up 0.1% at 94.117. Gold’s current price movement reflected the relatively calm attitude of investors, said Mark To, head of research at Hong Kong’s Wing Fung Financial Group. "These uncertainties are to be with us for quite some time, so sooner or later investors will get used to it," To said. He expected gold to trade in the $1,296-$1,305 range. Fear of a global trade war emerged after the US on Thursday went ahead with tariffs on aluminium and steel imports from Canada, Mexico and the European Union, ending the two-month exemption it had given e...
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