Sat. Jan 16th, 2021

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Gold is steady today

1 min read
Gold

Gold steadied on Monday as the dollar rally took a pause, while traders were on sidelines as political uncertainty built ahead of the first presidential election debate between U.S. President Donald Trump and his Democratic rival Joe Biden this week.

Spot gold was little changed at $1,860.19 per ounce by 0107 GMT.

U.S. gold futures were down 0.1% at $1,864.50.

The dollar index was down 0.1% against rivals, slightly off a two-month peak hit in the last session.

A firmer dollar makes bullion more expensive for holders of other currencies.

Trump and Biden will have their first presidential election debate on Tuesday.

Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, fell 0.02% to 1,266.84 tonnes on Friday.

Physical gold demand limped higher in top Asian hubs last week, with dealers in India easing discounts to the lowest level in six weeks, as a drop in prices saw a little interest return in the precious metal.

Silver rose 0.3% to $22.93 per ounce, platinum gained 0.4% to $850.74 and palladium was up 0.1% to $2,217.87.

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