Gold firm

March 09,2018

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Bengaluru : Gold prices held steady on Thursday as investors awaited more details on U.S. President Donald Trump´s proposed steel and aluminium tariffs, the outcome of the European Central Bank´s policy meeting, and U.S. jobs data.

Spot gold rose 0.2 percent to $1,327.48 per ounce by 0309 GMT. It hit a one-week high on Wednesday at $1,340.42, before closing at $1,325.49 an ounce.

U.S. gold futures were mostly unchanged at $1,32.20. "We see gold as a good hedge against rising equity market volatility and heightened political risks around trade tariffs, the NAFTA deal and North Korea," ANZ analysts said in a note.

Asian shares found some relief on Thursday as fears about a global trade war amid Trump´s push to introduce protectionist tariffs were tempered by signs that the move could include carve-outs for key partners.


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