Gold steadies

London

Gold prices held steady on Wednesday, not far from the over two-week highs hit in the previous session, as the dollar crept up from multi-month lows even as fading prospects of a U.S. monetary tightening continued to pressure the greenback.

The dollar stayed on the defensive and remained near over 10-month lows as investors wagered any further tightening in the United States would be slow at best, while optimism on China´s economy underpinned Asian shares and commodities. 

"Still, we are not overly bearish on the precious metal at the stage either, as the backdrop of a falling dollar is too difficult to ignore."

Also weighing on the dollar was the collapse of Republican efforts to overhaul or repeal Obamacare in the U.S. Senate on Tuesday, dealing a sharp setback to Trump and the Republican Party´s seven-year quest to kill former President Barack Obama´s signature healthcare law.