Gold firm after slipping over 1% amid firmer dollar
Gold stood firm after a slip of 1% in the previous session, as tensions surrounding N Korea and the nearing French presidential elections, offered aid to gold, amid firmer dollar.
At 0107 GMT spot gold rose up 0.1% at $1280 per ounce. The metal slipped 0.8% in Wednesday’s trade.
U.S. gold futures were weaker by 0.2% at $1281.30.
The dollar index, which measures the greenback against 6 major currencies inched up 0.1% to 99.781, sliding away from 3 week low of 99.465 plumbed on Tuesday.
SPDR Gold Trust informed that its holdings rose 1.39% to 860.76 tonnes on Wednesday from 842.92 tonnes on Tuesday.
China Development Bank is considering providing financing for a Chinese consortium, seeking to buy stake in Russia’s largest gold mine, Polyus, as informed by sources closely related to the development.