Gold unchanged as investors seek clarity on US-China trade
SPDR Gold holdings are down more than 3% so far in February, with gold likely to be range-bound between $1,305 and $1,315/oz
Bengaluru — Gold was little changed on Thursday as investors awaited clarity on the ongoing trade talks between Washington and Beijing and the US government shutdown, with a strong dollar and stock markets pinning prices near $1,300 an ounce. Spot gold was steady at $1,305.78 an ounce as of 11.01am GMT. US gold futures were down 0.4% at $1,309.30. “The market has been relatively quiet. The dollar is very firm, particularly against the yen and Swiss francs, and because of that the market is a little bit on the softer side,” said Afshin Nabavi, senior vice-president at MKS. The dollar index rose to a two-month high, making bullion costlier for investors holding other currencies. Also denting gold’s appeal were higher stocks, with European shares climbing to a three-month high on optimism about US-China trade talks. Investors were hoping for a breakthrough in the trade impasse between the world’s two largest economies. US President Donald Trump said on Wednesday that the talks were “go...
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