Bengaluru — Gold prices held steady on Wednesday, after rising the most since January 9 the day before, on demand for safe-haven assets amid concern over the slowing global economy along with uncertainty about the trade dispute between the US and China. Spot gold was little changed at $1,284.74/oz by 3.45am GMT, while US gold futures were up 0.1% at $1,284.20/oz. Spot gold rose 0.4% on Tuesday as global stock markets fell. Asian stocks dipped further on Wednesday. “Macro fundamentals data has been pretty disappointing.… There is a sudden surge in absurdities surrounding the US-China trade talks. All this data and trade uncertainties are fuelling demand for safety,” said Margaret Yang, market analyst at CMC Markets. However, a lack of significant movement in Asian equities was limiting gold’s gains, Yang added. Gold is often used as a hedge against political and economic uncertainty. “As the risk sentiment is biased towards the bearish side, based on all this data, gold will have mor...
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