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Gold Holds Steady In Lackluster Trade

Thu, 17th Jan 2019 11:27


WASHINGTON (Alliance News) - Gold prices held steady on Thursday after the Fed's latest report on the economy said businesses across the US have become less optimistic in recent months.

Spot gold edged up 0.2% to USD1,294.11 per ounce, while US gold futures were virtually unchanged at USD1,293.75 per ounce.

As economic headwinds mount, the Federal Reserve is expected to hold interest rates steady at least until June.

The dollar took a breather today after recent gains, while the British pound steadied after British Prime Minister Theresa May won a confidence vote in the parliament and urged lawmakers to break the impasse on a Brexit divorce agreement.

Meanwhile, as the US government shutdown enters its 26th day, GOP Senator John Kennedy dismissed a bipartisan effort to urge President Donald Trump to open the government for several weeks to clear the way for talks on border security.

Copyright RTT News/dpa-AFX

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