Bengaluru — Gold prices held steady on Monday as the expectation that the US Federal Reserve will pause its multiyear interest rate hike cycle, were offset by a recovery in investor appetite for risk. Spot gold was trading up 0.1% at $1,282.31/oz by 3.06am GMT, while US gold futures were steady at $1,282/oz. “Dovish signals [from the Fed] have kept dollar strength in check, helping gold. But on the other hand, we have seen them easing bearish sentiments in equity markets,” said Benjamin Lu, analyst at Phillip Futures in Singapore. Less than two weeks ahead of the US central bank’s first policy meeting of the new year, Federal Reserve officials have left little doubt that they want to stop raising interest rates — at least for a while. Slower global growth, a stock meltdown last quarter, and a partial US government shutdown that threatens consumer confidence and spending have many in the Fed worried. “We have seen very positive conditions in US equities and the dollar has also seen a...
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