Gold prices remain steady above $1,330

Gold was little changed on Thursday, holding steady above $1,330 an ounce as worries of a possible US federal debt default and the chances of a government shutdown next week could boost the metal’s safe-haven demand.

By (Agencies)

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Published: Fri 27 Sep 2013, 10:23 AM

Last updated: Fri 3 Apr 2015, 7:56 AM

Gold — seen as a safe haven and alternative investment — rose to a record $1,920 an ounce in September 2011, partly on fears over the first US debt ceiling crisis which was resolved at the last minute.

Spot gold stood unchanged at $1,332.81 an ounce in mid-morning trading, after gaining nearly one per cent in the previous session. US gold lost $2.90 an ounce to $1,333.40.

Bullion gained more than four per cent last week.

Silver rose 0.3 per cent to $21.81 an ounce.

Spot platinum fell 0.1 per cent to $1,424.50 an ounce and spot palladium edged up 0.1 per cent to $721.22 an ounce.

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