LONDON: On Thursday, gold steadied as the dollar stirs off the boil, though the market lacked direction and seemed unable to capitalize on mounting trade tensions.
Stock markets and commodities regained some aplomb after an unsettled session on Wednesday when the United States intensified trade war threats on China, while dollar stood nine day high.
The dollar’s failure to push ahead, especially against the euro, is viewed by some market watchers as a signal it may have peaked for now as the Federal Reserve might slow its cycle of rate surges if stocks drop sharply.
A weaker dollar makes dollar-priced gold cheaper for non-US investors who make up the bulk of gold buyers.
Silver was 0.7% higher at $15.85 an ounce. Earlier in the session it fell to its lowest since mid-December at $15.72 an ounce.
Platinum was up 0.3% at $827.25 an ounce, after falling to a more than one week low at $821.25 earlier, while palladium was 0.3% higher at $938.98 per ounce.
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