Gold prices steadied on Thursday
(Reuters) – Gold prices steadied on Thursday after jumping to a two-week high the previous day when U.S. consumer prices data stoked fears of rising inflation, with investors watching the dollar for market direction.
FUNDAMENTALS
* Spot gold was steady at $939.00 per ounce as of 0010 GMT, compared to New York’s notional close of $938.45.
* U.S. gold futures for August delivery were also little changed at $939.30, from $939.40 an ounce on the COMEX division of the New York Mercantile Exchange. The August contract rose to $942.30 on Wednesday, its highest since July 1.
* The world’s largest gold-backed exchange-traded fund, the SPDR Gold Trust , said holdings were unchanged at 1,094.54 tonnes as of July 15, after falling 1.4 percent the day before, its largest drop in three months. [GOL/SPDR]
Categorised as: Gold News