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Gold steady as Fed rate hike concerns weigh on dollar

US gold futures was broadly unchanged at $1,262.8 an ounce


Gold prices held ground on Wednesday on a weaker dollar amid uncertainties around the timing of a rate hike by the Federal Reserve and upcoming US presidential election. Spot gold was firm at $1,262.00 an ounce at 0731 GMT. In the previous session, the precious metal touched $1,264.78, its highest since October 10. US gold futures was broadly unchanged at $1,262.8 an ounce. Recent support for gold prices has had to do with the demand mostly from China and emerging markets, said Richard Xu, a fund manager at HuaAn Gold, China's top gold exchange-traded fund. "If ...

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First Published: Wed, October 19 2016. 13:10 IST