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MTECHTIPS;-Gold range bound as dollar caps gains

Friday, February 15, 2019 1:35

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MTECHTIPS;-Gold range bound as dollar caps gains

MTECHTIPS-Gold traded in a tight $3 range on Friday as concerns over an economic slowdown supported prices for the safe-haven metal and a firm dollar kept a lid on gains. Investors are also awaiting further developments from ongoing U.S.-China trade talks before making any big moves. Spot gold was steady at $1,312.56 per ounce as of 0419 GMT, while U.S. gold futures were up 0.1 percent at $1,315.40. “Uncertainties around Brexit and trade talks and strengthening of the dollar are capping gold prices,” said Brian Lan, managing director at dealer Gold Silver Central in Singapore Until there is resolution to these global concerns we might see gold prices range bound between $1,305 and $1,326.” The dollar measured against six of its peers was up 0.1 percent at 97.04, after weakening by 0.12 percent in the previous session. Two White House negotiators will meet with Chinese President Xi Jinping later on Friday, but there has been no decision to

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