LONDON: Gold costs steady on weekday, weighed down by expectations for associate degree charge per unit rise by the US Fed that boosted the dollar however supported at the margins by political risks in Europe.
Spot gold was unchanged at $1,203.61 per ounce at 1254 UT as investors took a wait and see approach before the Fed meeting. US gold futures were steady at $1,203.70.
Gold hit a five-week low on weekday however recovered quickly when a US non-farm payrolls report did not meet elevated expectations, deliberation on the dollar. Gold’s fast recovery weekday underlined its resilience, Boele said.
Holdings of the SPDR Gold Trust , the world’s largest gold-backed exchange-traded fund, rose 0.83pc on weekday.
Silver was flat at $16.94 per ounce. atomic number 78 swayback zero.16pc at $937.50 an oz, whereas metallic element fell zero.82pc to $746.20.