COMMODITY UPDATES - GOLD STEADY AFTER DOLLAR EDGES AWAY FROM 14-YEAR PEAK.
Byline: S. KAMAL HAYDER KAZMI
Gold was little changed on Thursday in muted trade ahead of the holidays as the US dollar slipped from 14-year highs. Spot gold was steady at $1,131.54 an ounce in Asian trade.
The metal, which hit a 10-1/2-month low of $1,122.35 last week on hawkish rate hike forecast from the Federal Reserve, ended flat in the previous session.
US gold futures were little changed at $1,132.90 per ounce. The Federal Reserve, which hiked US interest rates last week, signaled three more increases next year compared with its previous projection of two.
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|Publication:||Pakistan & Gulf Economist|
|Date:||Jan 1, 2017|
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