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Gold steady as geopolitical woes offsets firmer dollar
Gold prices steadied on Wednesday as support from the safe-haven demand fuelled by geopolitical risks offset the pressure from a stronger U.S. dollar. Spot gold was flat at $2,315.98 per ounce by 1127 GMT. U.S. gold futures was down 0.01% to $2,324.00 per ounce. The U.S. dollar held firm, recouping some of the losses stemming from renewed bets on Federal Reserve rate cuts this year. A stronger dollar makes gold less attractive for other currency holders. "The question is when will they (Fed) cut or will they cut this year at all because as long as inflation is not really coming down further, the Fed is on ... (full story)