Bengaluru — Gold held steady on Friday on worries that a prolonged China-US trade war could worsen global economic slowdown, but a strong dollar put bullion on track for its first weekly loss in three. Spot gold was steady at $1,309.34/oz, as of 3.20am GMT, after the metal hit its lowest since January 29 at $1,302.11 on Thursday. US gold futures were also unchanged at $1,313.10. US President Donald Trump said on Thursday he did not plan to meet Chinese President Xi Jinping before a March 1 deadline set by the two countries to achieve a trade deal. The two countries had taken a 90-day hiatus in their trade war to work out a deal. Stocks pulled back sharply around the world on fears of a global growth slowdown spreading to Europe and uncertainties around US-China trade tensions. “Some of our growth indicators are clearly seeing easing global activity and trade volumes are being hit. That makes people cautious and could derive support for gold around $1,300-$1,330 range,” said John Sha...
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