Bengaluru: Gold prices pared early gains and steadied amid a firm U.S. dollar on Monday, albeit trading above a 17-month low supported by concerns over the U.S.-China trade conflict.
Spot gold was steady at $1,213.05 an ounce, as of 0650 GMT, after hitting as high as $1217.85 in early trade.
U.S. gold futures were down 0.2 percent at $1,221.4 an ounce.
"Gold is still very much being influenced by how the dollar is moving. The uptick in gold prices is from the market pricing in how the U.S.-China trade war issues actually play out," OCBC analyst Barnabas Gan said.
Gold prices had rebounded on Friday from a 17-month low of $1,204 per ounce as dollar slipped after data showed U.S. job growth slowed in July.
The dollar had also weakened against the yuan on Friday after the Chinese central bank sought to stabilize its currency.
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