Gold prices steadied on Wednesday below the $2,000-mark as investors fretted over the outcome from the U.S. debt-limit negotiations, with a firmer dollar keeping prices in check.
Spot gold XAU= ticked up 0.2% to $1,992.56 per ounce by 0254 GMT. U.S. gold futures edged 0.1% higher to $1,995.10.
Gold has been well supported on price dips below $2,000 and with the debt ceiling “process dragging-on, there is some pent-up frustration in the market which is adversely affecting sentiment”, and that could bring safe-haven flows into gold, Tim Waterer, chief market analyst at KCM Trade said.
London-listed company KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focused on gold and copper deposits in the highly prospective Arabian-Nubian Shield. The Company operates in Ethiopia and Saudi Arabia with projects including Tulu Kapi project, Jibal Qutman EL and Hawiah.