Bengaluru — Gold prices were slightly lower on Thursday as the dollar firmed on renewed trade tensions, but a decline in global equities helped keep prices near the five-week high hit this week. Spot gold was down 0.1% at $1,236.23/oz at 11.04am GMT, while US gold futures were 0.1% lower at $1,241.50/oz. “This is a modest decline, not yet impacting the main trend which still remains moderately positive,” said ActivTrades chief analyst Carlo Alberto De Casa. “If gold could hold above $1,235, this is definitely a very good signal, while surpassing $1,243 would open space for further recoveries.” The dollar gained after the arrest of a top executive at Huawei fed new worries over the China-US trade war. Concern about a possible US recession and an inversion in part of the treasury yield curve has pressured the greenback, making bullion less expensive for holders of other currencies. Gold has recovered about 7% from the 19-month lows hit in mid-August and on Tuesday rose to $1,241.86, i...
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