Gold Price Holds Steady In Lackluster Trade

New York (Sept 11)  Gold prices were largely unchanged on Tuesday despite the dollar trading flat against major currencies.

Spot gold was up 0.12% at USD1,194.43 an ounce while US gold futures were marginally lower at USD1,199.40.

After last week's upbeat jobs report, investors are bracing for another increase in US interest rates before the end of the month.

The prospects of another increase in December have also been rising, despite the low inflation outlook.

Higher rates increase bond yields, making the non-yielding bullion less attractive to investors.

Investors also keep a close eye on global trade developments, particularly the ongoing dispute between the world's two largest economies, after a public comment period ended last week on proposed additional tariffs.

AllianceNews

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