Gold price steady as market wary on geopolitical rumblings

London (Apr 10)  Gold prices were steady on Tuesday but poised for gains as investors awaited potential U.S. action against the suspected use of chemical weapons in Syria as well as more trade friction. "Geopolitics is taking the main driving seat this week, so gold has potentially got some room for the upside," said Jonathan Butler, commodities analyst at Mitsubishi in London. "A lot will hinge on what is happening geopolitically between Russia, Syria, Iran and all sorts of other countries that could be potentially drawn into this." Spot gold was barely changed, down 0.01 percent at $1,335.73 an ounce at 1005 GMT, having risen to a near one-week high of $1,338.12 earlier in the session. U.S. gold futures dipped 0.1 percent to $1,339.10 an ounce.

Reuters