|Published : 01 Dec 2016, 10:34:12|
Gold prices steady after oil rally
Gold was little changed on Thursday after dipping to its lowest since February in the previous session, with the dollar holding around 9-month highs against the yen after a rally in oil prices.
Spot gold was mostly unchanged at $1,172.24 an ounce by 0046 GMT. The metal hit its lowest since Feb 8 at $1,170.35 in the previous session.
US gold futures were flat at $1,170.90 per ounce.
The US dollar was broadly firm, hitting 9-1/2 month highs against the yen as oil prices surged after OPEC agreed to output cuts - lifting inflation expectations and US bond yields.
SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.13 per cent to 883.86 tonnes on Wednesday from 885.04 tonnes on Tuesday, according to a news agency report.