LONDON: Gold steadied on Tuesday, paring earlier losses as the dollar gave up some of its gains against the euro after US consumer price data pointed to a gradual buildup of inflationary pressure.

Spot gold was unchanged on the day at $1,311.90 an ounce by 1344 GMT, reversing the previous session’s modest gains, while US gold futures for August delivery were up 0.1 percent at $1,313.00 an ounce.

Published in Dawn, July 23rd , 2014