Dubai gold holds steady, 22k priced at Dh139.25

US gold futures for August delivery were 0.1 per cent lower at $1,223.90 an ounce.

Gold prices were little changed on Wednesday as the dollar held steady ahead of a meeting between the US and European Commission presidents to discuss trade-related issues.
24k gold is priced at Dh148.25 and 22k can be bought at Dh139.25.
Spot gold was nearly unchanged at $1,223.97 an ounce at 0333 GMT.
US gold futures for August delivery were 0.1 per cent lower at $1,223.90 an ounce.   
The dollar index, which measures the greenback against a basket of six major currencies, was little changed at 94.652.        
"It is extremely quiet and everyone is staying on the sidelines... I think the market is still waiting for information on the trade war," said Dick Poon, general manager, Heraeus Metals Hong Kong Ltd.    
A meeting between US President Donald Trump and European Commission President Jean-Claude Juncker is set to be held in Washington on Wednesday, where the two leaders will discuss trade-related issues. 
This comes after the United States imposed tariffs on EU steel and aluminium in June and Trump threatened to extend them to EU cars and car parts.             
Meanwhile, investors are also awaiting the second-quarter US economic growth data which is due on Friday, where they expect growth to top current forecasts of 4.1 per cent. 
"We still remain somewhat cautious on the precious metals group. In addition to poor-looking technicals, the market is vulnerable to the dollar resuming its upswing. This could happen as easily as Friday when the GDP numbers come out," INTL FCStone analyst Edward Meir said in a note.
"Anything meaningfully north of 4.2 per cent could lead to yet another push-up in the greenback and pressure gold lower as investors coalesce around perceptions of a Fed intent on raising rates as expeditiously as it can."
A now-robust US economy will soon lose momentum on rising interest rates and escalating trade disputes, according to economists polled by Reuters, who nonetheless gave just a one-in-three chance of a recession over the next two years.             
Among other precious metals, silver was down 0.1 per cent at $15.42 an ounce.   
Platinum was 0.3 per cent higher at $830.99 per ounce, while palladium fell 0.5 per cent to $910 an ounce.

• Gold and Forex