Gold steady as appetite for risk wanes
The metal is hardly changed amid risk-off sentiment, while the firm dollar limits gains ahead of the European Central Bank’s policy meeting
Bengaluru — Gold prices steadied on Thursday as lacklustre appetite for riskier assets offered some support to the safe-haven metal, while a firm dollar limited gains ahead of the European Central Bank’s (ECB) policy meeting due later in the day. Spot gold was steady at $1,286.49/oz, as of 3.41am GMT. US gold futures were down 0.1% at $1,287. The dollar index, which tracks the greenback against major currencies, was holding near its more than two-week high posted earlier in the week. “There is some support for safe-haven assets. Equities in Asia have given up the gains and that reflects the pressure we are seeing on risk assets,” said Michael McCarthy, chief market strategist at CMC Markets, adding, strong dollar is limiting gains. Asian shares eased on Thursday, with caution prevailing as investors awaited some kind of resolution to China-US trade negotiations. US President Donald Trump said on Wednesday that trade talks with China were moving along well and predicted either a “goo...
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