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Gold steady as stock rally offsets weaker dollar

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Metal is hardly changed after snapping a three-session winning streak, as an equity rally balances support from a softer dollar

Sets of gold bangles are displayed in a showcase of a showroom selling bridal jewellery in Peshawar, Pakistan. Picture: REUTERS/FAYAZ AZIZ

Spot gold was unchanged at $1,727.65/oz by 2.59am GMT, after declining 0.7% on Tuesday. US gold futures fell 0.1% to $1,732.20. Asian shares vaulted to a near three-month high as the hope of more stimulus and further easing in social restrictions outweighed caution over a host of worries from the coronavirus to growing US civil unrest.

 

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