Gold steadies 
at $1,300 on
 Europe stocks

Gold was little changed around $1,300 an ounce on Thursday, with support from lower European stocks offset by a firmer dollar after strong US data signalled an improved outlook for the world’s biggest economy.

Palladium and platinum eased slightly as investors took profits, but largely held gains from a three-day rally spurred by rising labour tensions in major producer South Africa. Platinum hit a two-month high and palladium touched a 2-1/2 year peak on Wednesday. Strength in the more industrial precious metals helped propel gold prices higher in the previous session.

“Gold’s strength is capped by stronger dollar and better US data,” Societe Generale analyst Robin Bhar said.

Spot gold was down 0.1 per cent at $1,303.54 by 1019 GMT, but held near the one-week high it reached in the previous session. US gold futures fell 0.1 per cent to $1,304.10 an ounce.

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