Gold Price Holds Steady On Dollar Weakness

New York (Aug 28)  Gold prices held steady on Tuesday, helped by dollar weakness as the US-Mexico trade deal helped boost optimism for an easing of global trade tensions, which have been building up for months now.

Spot gold was up 0.41% at USD1,213.90 after hitting its highest level in two weeks the previous day. US gold futures were up 0.33% at USD1,220 an ounce, with lingering worries over the US-China trade conflict keeping a lid on prices.

Gold prices have fallen more than 7% this year, but there has been some recent upward momentum after the precious metal touched 1-1/2-year lows on Aug. 16 amid the Turkish currency crisis and on expectations of higher US interest rates.

AllianceNewws