World Economy

Gold Flat

Gold FlatGold Flat

Gold remained little changed on Friday, hovering near lows touched in the previous session, as the dollar stayed firm on expectations of a rate hike by the US Federal Reserve this year, Reuters reported. Spot gold was flat at $1,338.07 an ounce. It ended down 0.6% at $1,338.39 on Thursday. The metal, however, was on track for a weekly gain. US gold slipped 0.4% at $1,344.1 an ounce. Spot gold may bounce moderately in a narrow range of $1,344-$1,349 per ounce, before retesting support at $1,335, as suggested by its wave pattern and a Fibonacci projection analysis, Reuters technical analyst Wang Tao said.