Gold loses ground as dollar steadies
The metal slips amid signs of easing trade tensions between the US and China, while palladium rises to a record high
Bengaluru — Gold prices slipped on Thursday as the dollar steadied and equities climbed on signs of easing trade tensions between the US and China, while palladium rose to a record high, trading at a premium to the bullion. Spot gold was down 0.2% at $1,243.91/oz, as of 4.15am GMT, while US gold futures were 0.1 percent lower at $1,249.30/oz. “Market sentiment is neutral today.… We’ve got a little more positive sentiment than we anticipated from US-China trade tensions, which is weighing on the topside,” said Stephen Innes, Asia-Pacific trading head at Oanda in Singapore. “Dollar hasn’t made much moves and that's the real signpost for gold as they are still highly correlated.” The dollar index, which measures the greenback against six major rivals, was steady at 97.069, after retreating from a near one-month high overnight. Meanwhile, Asian shares advanced on signs of easing trade tensions between the world's top two economies, and the expectation that China will step up efforts soo...
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