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Gold steadies as exchange confidence diminishes on Huawei sanctions:

Spot gold was unaltered at $1,296.30 per ounce at 0409 GMT, moving in a limited scope of about $3.

Gold steadied on Thursday, solidifying in a tight range beneath the key $1,300 turn, as Washington slapped authorizes on Chinese telecoms monster Huawei, souring confidence for a defrost in U.S-China exchange pressures.

Spot gold was unaltered at $1,296.30 per ounce at 0409 GMT, moving in a tight scope of about $3.

U.S. gold prospects edged 0.1 percent lower to $1,296.80 an ounce.

“There are still a great deal of fundamental pressures (encompassing U.S.- China exchange relations) so that may be steady for gold,” said John Sharma, market analyst at National Australia Bank.

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