LONDON: Gold prices held steady on Friday, trapped between pressure from a firm dollar and high Treasury yields and support from coronavirus lockdowns in Europe and dovish policy noises from the US Federal Reserve. Spot gold was little changed at $1,846.50 per ounce by 1313 GMT, while US gold futures fell 0.2% to $1,847.
“We are just hovering above this crucial (200-day average) level and there is no upward momentum as the dollar is not weakening at this point and we’re also seeing no big moves in yields so it’s a bit of a range trade (for gold) currently,” said ABN Amro analyst Georgette Boele. Silver fell 1% to $25.27 an ounce. Platinum dipped 1.8% to $1,098, but was up more than 3% so far this week, while palladium shed 0.4% to $2,399.72.
Comments
Comments are closed for this article.