Bengaluru — Gold prices were steady on Monday, capped by headwinds from a firm dollar, while investors looked to the Group of 20 (G20) meeting this week for signs of a thaw in the China-US trade conflict. Spot gold inched 0.1% higher to $1,223.31/oz by 4.15am GMT. US gold futures were up about 0.1% at $1,223.80/oz. “People are moving some of their capital into gold at this point of time, given the uncertainties around the pace of rate hikes by the Fed, the US-China trade war.… People see gold as a hedge against these uncertainties,” said Brian Lan, MD at Singapore dealer GoldSilver Central. However, a stronger dollar restricted further gains in the price of the metal. The dollar index, which measures the greenback against a basket of six major currencies, was up about 0.1%, as investors sought shelter in safe haven currencies as fears of a global growth slowdown and US-China trade tensions sapped risk appetite. “Dollar movements will ultimately provide gold's near-term direction,” s...
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