Gold prices held largely steady on Thursday, a day after posting its biggest one-day percentage fall in nearly 9 months, as tensions over North Korea and global trade eased. Spot gold was nearly unchanged at $1,325.16 per ounce at 0736 GMT, after hitting a low of $1,322.50 earlier in the session, it's lowest since March 21.
Prices dropped 1.5 percent on Wednesday, their biggest one-day percentage decline since July 3, 2017. US gold futures for April delivery were steady at $1,324 per ounce. "There was a premium in the (gold) price due to both the trade issue and with the North Korea. Both of these tensions look to be less inflamed currently," said Cameron Alexander, an analyst with Thomson Reuters-owned metals consultancy GFMS. Concerns about the global trade war have eased but that doesn't mean it is over, said Brian Lan, managing director at dealer GoldSilver Central in Singapore.
Comments
Comments are closed.