London — Gold prices steadied near 18-month lows on Tuesday, attempting a break back above the key $1,200 level as the dollar eased and analysts said the precious metal could have fallen too far. Spot gold edged up 0.1% to $1,195.16 an ounce by 10.34am GMT. In the previous session, the bullion hit $1,191.35, its lowest since January 30 2017. US gold futures were up 0.3% at $1,202.10 an ounce. The dollar, in which commodities such as gold are priced, edged lower against a basket of its peers as the Turkish lira regained its footing, easing concerns of a negative ripple effect on global markets. "A lot of investors got very disappointed because they thought that gold would be the safe haven in trade conflict and also with Turkey and emerging markets — and it wasn’t," said Georgette Boelle, commodity strategist at ABN AMRO. "It’s still very difficult to point out where the low is going to be but we are in cheap territory and gold should start bottoming out at these levels." Gold, which...
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