Gold steadied on Friday, helped by a weaker US dollar, with the possibility of a no-deal Brexit, uncertainties over US-China trade, and fears of a global slowdown keeping bullion on track for a small weekly gain.[BENGALURU] Gold steadied on Friday, helped by a weaker US dollar, with the possibility of a no-deal Brexit, uncertainties over US-China trade, and fears of a global slowdown keeping bullion on track for a small weekly gain.
"The dollar is a bit soft so could help a little, but overall gold is meandering in no-man's land. Perhaps we've found a restive equilibrium until we get a fresh macro driver," said Tai Wong, head of base and precious metals derivatives trading at BMO. "The focal point today will be the Fed speak. We're hoping to get any type of clue if there are any changes in the rate cut mentality at the end of this month. In recent days there have been discussions about a potential pause."
In another sign the trade dispute is dragging on economic growth, data from China showed its third-quarter economic growth slowed to its weakest pace in almost three decades.
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