Gold prices held steady early on Thursday as markets waited for more details on US President Donald Trump’s proposed steel and aluminum tariffs and the outcome of the European Central Bank’s policy meeting.
* Spot gold rose 0.1 per cent to $1,326.40 per ounce at 0058 GMT. It hit its highest in a week on Wednesday at $1,340.42.
* The White House said late Wednesday that Canada, Mexico and possibly other countries may be exempted from the proposed steel and aluminium tariffs.
* Trump is expected to sign a presidential proclamation establishing the tariffs during a ceremony scheduled for 2030 GMT on Thursday, a source familiar with the situation said.
* Businesses are reporting persistent labor market tightness across the United States, with accelerating wage gains in many regions, the Federal Reserve said on Wednesday in a report that bolstered the case for interest rate increases.
* SPDR Gold Trust GLD, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.03 per cent to 833.73 tonnes on Wednesday from 833.98 tonnes on Tuesday.
* The five banks that settle every transaction in London’s $6.8 trillion a year gold market are changing the rules of their clearing house to make it easier for newcomers to join.
* India’s gold imports in February dropped a quarter from a year ago to 63 tonnes as higher prices curtailed demand in the world’s second-biggest consumer of bullion, provisional data from precious metals consultancy GFMS and bank dealers showed.
* Gold mining in Africa has a bad rap — particularly when it comes to women. But in the gold mining belt of Mali, one of the world’s poorest countries, the victimization lens does great injustice to the hundreds of women mining alongside men.
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