London, December 19 (QNA) – Gold prices were steady on Monday as prospects of further interest rate hikes by the US Federal Reserve next year countered support from a tepid dollar.
Spot gold held its ground at $1,791.56 per ounce. Gold futures rose 0.1% at $1,802.50.
The dollar index dipped 0.2%. A weaker greenback makes bullion more attractive to holders of other currencies.
Gold registered its biggest weekly decline since mid-November on Friday after Fed Chair Jerome Powell said the US central bank would deliver more hikes next year, despite growing recession worries.
Spot silver lost 0.4% to $23.12, platinum fell 0.2% to $989.52 and palladium was up 0.7% at $1,725.38. (QNA)
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