FOX LIVE NEWS UPDATE
PRECIOUS-Gold pares early gains; stronger dollar weighs
Aug 6 (Reuters) – Gold prices pared early gains and steadied amid a firm U.S. dollar on Monday, albeit trading above a 17-month low supported by concerns over the U.S.-China trade conflict.
Spot gold XAU= was steady at $1,213.05 an ounce, as of 0650 GMT, after hitting as high as $1217.85 in early trade.
U.S. gold futures GCcv1 were down 0.2 percent at $1,221.4 an ounce.
“Gold is still very much being influenced by how the dollar is moving. The uptick in gold prices is from the market pricing in how the U.S.-China trade war issues actually play out,” OCBC analyst Barnabas Gan said.
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