Gold Prices Slightly Higher

London (Jan 23)  Gold prices are higher Wednesday morning with the dollar losing marginal ground against some major currencies.

However, with traders looking for direction, the yellow metal is moving in a very tight band and its gain is just marginal.

Gold futures for February are up 1.05, or 0.1%, at USD1,284.45 an ounce.

On Tuesday, gold futures ended up USD0.80, at USD1,283.40 an ounce, after falling to a low of USD1,276.70 earlier in the session.

Silver futures for March are up USD0.085, or 0.55%, at USD15.410 an ounce, while Copper futures for March are up USD0.007, or 0.28%, at USD2.667 per pound.

With some recent economic data from the US, China and Eurozone turning out to be quite disappointing and confirming fears of a global economic slowdown, gold and the greenback have been staying fairly steady in recent sessions.

Despite some good spells in positive territory, the yellow metal is still finding the USD1,300 mark quite elusive.

With a slew of crucial economic data from the US due this week, and the European Central Bank's monetary policy announcement due tomorrow, the mood across equities and commodities markets is somewhat cautious.

Investors are closely tracking news on Brexit, US-China trade talks and the partial government shutdown in the US for direction.

AllianceNews