Gold holds tight range as traders seek direction from US data

Gold holds tight range as traders seek direction from US data
# 26 April 2023 09:39 (UTC +04:00)

Gold prices moved in a tight range on Wednesday, with recessionary fears lending some support to the safe-haven asset, while investors sought more clarity on the Federal Reserve's rate-hike trajectory from U.S. economic data due this week, APA-Economics reports.

Spot gold held its ground at $1,997.40 per ounce by 0307 GMT. U.S. gold futures were up 0.2% at $2,008.60.

The dollar index eased, making gold less expensive for overseas buyers.

Elsewhere, spot silver fell 0.2% to $25.00 per ounce, while platinum rose 0.7% to $1,094.08.

Palladium gained 1.1% to $1,499.47, on track to snap two session of losses, if gains hold.

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