Gold News

Gold steadies as the dollar halts its rise for the time being

Gold steadies as the dollar halts its rise for the time being

Gold steadied on Wednesday after the euro bounced slightly higher against the U.S. dollar though weaker oil prices could prompt new selling, traders said. Dealers noted early bargain hunting from Chinese speculators but gold prices were susceptible to sharp movements due to low volumes. Platinum and palladium slipped in early trade but held near recent highs. Gold was around 2 percent below a 6-1/2-week high near $1,150 hit in early March. Several attempts to revisit a lifetime high around $1,200 struck in early December were met by heavy profit taking but steady investor interest could lend Support. Gold is trading at $1,108 as of 21:20pm, GMT, with a bullish trend.