Gold prices held steady on Thursday, paring an earlier drop of nearly 1%, while a firmer dollar and fading hopes for near-term interest rate cuts due to higher oil prices continued to weigh. Spot gold was down 0.1% at $5,172.86 per ​ounce as of 0221 GMT. U.S. gold futures for April delivery was ​unchanged at $5,178. “Given a lack of a short-term exit for the Middle East ⁠conflict right now, plus a de facto closure of the Strait of Hormuz, ​I think any gold dips will likely be bid (buying opportunity), since the market lacks ​a clear reason to sell the metal,” said Nicholas Frappell, global head of institutional ... (full story)