Bengaluru — Gold steadied on Monday, trading near a two-week low hit in the previous session, as strong US economic data underpinned the dollar amid geopolitical as well as trade tensions. Spot gold was broadly unchanged at $1,276.79/oz at 3.21am GMT. US gold futures were 0.1% higher at $1,276.40/oz. The metal fell to a two-week low of $1,274.51/oz on Friday after data showed US consumer sentiment jumped to a 15-year high in early May amid growing confidence over the economy's outlook. “The safe-haven demand of the US dollar is taking some of the gloss off gold’s safety,” said Michael McCarthy, chief market strategist, CMC Markets. “It is a tough time all around for gold with the break below $1,290 also pressuring it. In the absence of safe-haven demand I would expect to see ongoing modest pressure on gold prices.” Rekindled China-US trade tensions have seen the dollar mimicking its characteristics from 2018 when it was preferred over gold as a safe-haven hedge. The dollar index boo...

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