Gold steadied after two days of losses on Wednesday but held below $1,300 an ounce, near a four-week low, on a stronger dollar and fears that the Federal Reserve could hike US interest rates sooner than expected.
Fed Chair Janet Y
Gold slipped 2 percent to a 3-1/2 month low on Tuesday, extending losses after strong US data lifted optimism about the economy, while platinum fell after South Africa's mining minister pledged to mediate in a long-running strike.
Gold fell around one percent in thin trade on Thursday, a day after the US Federal Reserve announced a further cut in its stimulus programme and reiterated its confidence in the US economic outlook despite weak first-quarter growth.
Gold hit a six-week low on Thursday, breaking below $1,300 an ounce for the first time since mid-February, as speculation that US rates would rise sooner than expected and easing tensions over Ukraine pushed prices down.
Gold bounced on Wednesday from its weakest level since mid-February but signs of a recovery in the US economy and an absence of support from the physical sector could limit gains and keep prices in a tight range.
In a sign of tepi
Gold fell to its lowest in more than five weeks on Tuesday, as the dollar edged higher on after a top Federal Reserve official reinforced the likelihood of higher US interest rates in the first half of 2015.
In an interview with C
Gold rebounded on Tuesday from a one-month low hit in the prior session, helped by short covering and a rise in bullion-backed exchange traded fund holdings, but expectations of higher US interest rates and a lack of physical buying capped gains
The Dubai Gold and Commodities Exchange (DGCX) has approved the UOB Bullion and Futures (UOBBF), a wholly-owned subsidiary of Singapore’s United Overseas Bank (UOB), as a clearing member of the exchange.
UOBBF is a fully-lic
Gold firmed after rallying to its highest in two months on Monday as equities fell on worries that capital outflows from emerging economies would continue, boosting bullion's safe-haven appeal.
Asian shares dived as eme
Gold fell on Monday, on course for its largest annual loss in 32 years, as thin pre-holiday trade and signs of an improving US economy growth kept investors fretting over the impact of the Federal Reserve's stimulus tapering.