Bengaluru — Gold prices edged up on Wednesday, supported by technical buying amid concern over inflation in emerging markets, but gains were curbed as the dollar rose broadly on heightened concerns about international trade conflicts. Spot gold was up 0.2% at $1,193.24, as of 7.58am GMT. In the previous session, it hit $1,189.20, its weakest in more than a week. US gold futures were mostly steady at $1,198.40/oz. "Gold is holding up at these levels well as there are some uncertainties stemming from emerging-market currency crisis," said Hareesh V, head of commodity research, Geojit Financial Services. "When the currency weakens, inflation shoots up and gold has historically performed well during those times." Inflation worries generally boost gold, which is seen as a safe haven against rising prices. Emerging-market stocks and currencies were under increased pressure on concerns about inflation in Turkey and after data showed SA had slumped into recession in the second quarter. Fres...

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, ProfileData 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. Got a subscription voucher? Redeem it now