NEW YORK/LONDON: Gold recouped some of the previous session's hefty losses on Monday as the US dollar steadied and uncertainty over a US tax reform plan stoked risk aversion, pulling equities from their recent record highs.
Prices remained stuck in a narrow range, however, as investors awaited more clues on the path of US interest rates.
Spot gold was up 0.2 percent at $1,279 an ounce by 1:41 p.m. EST (1841 GMT), while US gold futures for December delivery settled up $4.70, or 0.4 percent, at $1,278.90 per ounce.
The metal has remained broadly within $15 an ounce of its 100-day moving average, currently at $1,277 an ounce, for most of the last month.
Gold fell 0.7 percent on Friday in its biggest one-day drop since Oct. 26, weighed down by a rise in US Treasury bond yields. Yields rose, steepening the yield curve, as traders closed out some curve-flattener positions.
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