Bengaluru — Gold prices steadied on Monday after touching a one-month low in the previous session, but the metal remains under pressure from a firmer US dollar and the expectation the Federal Reserve is on track to tighten borrowing costs. Spot gold was little changed at $1,209.71/oz at 4.31am GMT. On Friday, prices fell to their lowest since October 11 at $1,206.13/oz. “Higher US interest rates and a stronger dollar are flashing red for gold investors,” said Stephen Innes, Asia-Pacific trading head at Oanda in Singapore. There was little to no safe-haven appeal and robust US leading indicators showed the US services-based economy was firing on all cylinders, suggesting the Fed will hold the course on expected rate rises, he said. The dollar index, which measures the greenback against a basket of six major currencies, inched up 0.1%. The greenback built on last week’s gains and rose towards a 16-month high. The Fed has reaffirmed its plan to raise interest rates by in December, foll...
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