Gold held steady on Thursday as investors awaited cues on market direction amid a number of geopolitical events later in the day that could boost the safe-haven demand for the metal. Polling has started in the UK national elections, while the European Central Bank (ECB) may discuss dropping additional stimulus pledges at a meeting later and former United States Federal Bureau of Investigation director James Comey will testify before the US Congress about his interactions with President Donald Trump later in the day.
"Unless there is a major surprise today and the Labour Party gets up over the Conservatives, I doubt there will be much reaction to gold price from the UK election. The market has already priced this," said Cameron Alexander, an analyst with Thomson Reuters-owned metals consultancy GFMS. Spot gold was nearly flat at $1,285.91 per ounce, as of 0809 GMT. US gold futures for August delivery dipped 0.4 percent to $1,288.20 an ounce.
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