Spot gold steadied on Wednesday from a more than two percent fall in the previous session, as bargain hunting on the physical market lent support and helped offset a stronger dollar. Spot gold gained 0.3 percent to $1,383.16 an ounce by 0651 GMT, after posting its biggest daily loss since November 12. on Tuesday. US gold rose by 0.3 percent to $1,383.1. Physical demand has taken advantage of the price dip, dealers said.
Holdings in the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, fell to a seven-month low at 1,276.472 tonnes by January 4. Spot platinum fell to a 1-1/2 week low of $1,723.5, and recovered to $1,733.45. Spot palladium fell 0.7 percent to $769.9.