Gold prices steady amid slightly firmer US dollar

Gold prices held ground today, Dec. 6, amid a slight rise in the US dollar, in light of concerns about the path that the Federal Reserve will take in its next meeting following the release of strong economic data recently.

Gold futures for February delivery kept flat at $1782.2 an ounce at 10:30 am Makkah time, as spot prices settled at $1,769.96 per ounce.

Meanwhile, silver futures for March delivery gained 0.37% to $22.50 an ounce, while the spot price of platinum contracted to $1,000.24 per ounce. The spot price of palladium, however, advanced 0.96% to $1,893.75 an ounce.

The US dollar index, which gauges the greenback's strength against a basket of six currencies, rose marginally by 0.11% to 105.40 points.

China — the world's largest gold consumer — is set to announce a further easing of some its zero-COVID curbs after widespread protests and mounting economic damage.