Gold prices were steady on Tuesday morning, caught between lower bond yields and a stronger dollar, as investors watched for signs of how soon the US central bank could wind down pandemic support measures when it meets later in the day.
Spot gold was almost unchanged at $1,786.56 at 9.30 am UAE time. In the UAE, the 24K variant of the precious metal opened at Dh216.25 per gram on Tuesday morning. While 22K, 21K and 18K were trading at Dh203.25, Dh194.0 and Dh166.25 per gram, respectively.
The dollar firmed, making bullion more expensive for buyers holding other currencies, while US Treasury yields hovered near a one-week trough touched in the previous session.