Gold fights to hold ground above key level

SINGAPORE – Gold fought to hold steady above a key technical level yesterday, after snapping a four-day slide in the previous session on hopes the United States Federal Reserve would opt to continue with monetary stimulus.

The central bank is expected to confirm in a statement that it will keep up $85 billion in monthly bond buying until unemployment rates drop significantly, although officials have shown concern over side effects from such measures.

Investors are also waiting for nonfarm payrolls data on Friday for a close look at the US labour market.

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