Gold Steady around $1330 as U.S. Dollar Retreats

Gold prices settled higher on Thursday due to a steady dollar, but remained well below the previous day’s four-month high as buyers of coins, bars and jewelry in Asian markets held off in expectation of a further price drop.

The U.S. currency fell below a two-week high against a basket of major currencies, paring earlier gains as a better-than-expected read on U.S. durable goods offset a rise in weekly jobless claims.

Concerns over the future of Ukraine had helped the dollar to its biggest one-day rise in about a month, prompting gold selling after the metal hit its highest since Oct. 30 in Asian trading hours.


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