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20.04.201700:22:00UTC+00Gold Stable on Geopolitical Uncertainty Amid Stronger Dollar

Gold prices were steady, after slipping as much as one percent the day earlier, with tensions on North Korea and the upcoming French presidential election both providing support to the safe-haven asset despite a stronger dollar.

Spot gold rose 0.1 percent at $1,280 an ounce. The precious metal dropped 0.8 percent on Wednesday, its worst one-day decline in a month. U.S. gold futures lost 0.2 percent at $1,281.30.

A series of unsatisfactory U.S. economic data and doubts that the Trump administration will pull through with tax cuts have suppressed expectations of quicker inflation. The Federal Reserve stated in its Beige Book that the U.S. economy grew at a modest-to-moderate pace between mid-February and the the end of March.

SPDR Gold Trust, the world's biggest gold-backed exchange-traded fund, said its holdings climbed 1.39 percent to 860.76 tonnes on Wednesday from 848.92 tonnes on Tuesday.

Shandong Tyan Home said its talks with Barrick Gold Corp to purchase the Canadian operator's 50-percent stake in Kalgoorlie mine has ended without a deal, indicating new capital and acquisition rules in China.

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