Gold Steady Below $1260

Gold held steady on Thursday but was still near its lowest in nearly four months, following a two-day sell off from a stronger dollar and firmer global equities.

Spot gold was flat at $1,258.90 an ounce by 0030 GMT, after losing nearly 3 percent in the previous two sessions.

On Wednesday, the metal hit $1,255.66 – its lowest since early February.  A stronger dollar makes gold more expensive for holders of other currencies, while higher equities dent gold’s appeal as an investment-hedge.


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