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Gold Steadies

Gold SteadiesGold Steadies

Gold steadied on Monday, retaining sharp gains from the previous trading session, as weakness in the dollar and equities helped the metal recoup some losses from a US interest rate hike last week, Reuters reported. Spot gold had eased 0.2% to $1,064.16 an ounce, but largely retained its 1.4% gain from the previous session. The metal saw some safe-haven bids on Friday after global equity markets fell sharply as slumping oil prices raised concerns about slower growth, while the dollar slipped against the yen on views the Bank of Japan may not ease policy as much as expected.

 

Financialtribune.com