Bengaluru — Gold edged higher on Thursday as growing risk aversion weighed on the dollar, while palladium held ground at a premium to the bullion. Spot gold was up 0.2% at $1,239.86 an ounce, as of 4.29am GMT, while US gold futures were 0.2% higher at $1,244.9 an ounce. “Markets are trying to consolidate, trying to push up higher for now,” said Benjamin Lu, a commodities analyst with Phillip Futures. A balance between a host of factors such as a rate hike by the US Federal Reserve in December, uncertainty about trade tensions between Washington and Beijing, and a flattening yield curve has helped create a premium for the bullion, Lu added. Fed policymakers will gather at a December 18-19 meeting, at which the central bank is widely expected to raise interest rates. “Although a rate hike is already priced in, markets will be closely watching the meeting for clues on rate hike timings in 2019,” said Lukman Otunuga, a research analyst at FXTM, adding that: “if the meeting echoes a simi...

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