MTS Help Center

• Gold prices edged down on Wednesday, hovering just below a three-week high hit in the previous session, as the dollar held steady and equities firmed.

Spot gold fell 0.1 percent to $1,281.71 an ounce as of 0337 GMT, after hitting its highest since Dec. 1 at $1,283.72 in the previous session.

U.S. gold futures were little changed at $1,286.70 an ounce.

• “Technically, the 38.2 percent of the move down from the 2017 high of $1,357 comes in at $1,282. The 100-day moving average is at $1,286. So, these levels will be watched for further moves,” said Amit Kumar Gupta, portfolio management services head at Adroit Financial Services.

“We will have to see how gold behaves at these levels in holiday mood amid low liquidity.”

• The dollar held steady versus a basket of major currencies on Wednesday, drawing support after oil prices climbed to 2-1/2 year highs.

• Equities firmed on Wednesday, boosted by commodity- and energy-linked shares around Asia.

• Meanwhile, the United States announced sanctions on two North Korean officials behind their country’s ballistic missile programme on Tuesday, while Russia reiterated an offer to mediate to ease tensions between Washington and Pyongyang.

• Federal Reserve monetary policy is likely to be the overriding factor determining the direction of gold prices in 2018, with most analysts seemingly upbeat on the yellow metal on a view that policymakers may not hike interest rates as much as currently forecast and that other central banks will also tighten, meaning the U.S. dollar cannot gain traction.