2019.03.0705:37:00UTC+00Gold Holds Steady As Equities Decline

Gold prices were largely unchanged on Thursday as global equities declined amid global growth concerns and uncertainty over trade.

Spot gold was little changed at $1,285.97 per ounce while U.S. gold futures were down 0.1 percent at $1,286.35 per ounce.

The dollar held firm as investors awaited more clarity on U.S.-China trade talks and looked ahead to a ECB meeting later today for signals whether it would add fresh stimulus into the economy.

Given the extraordinary tensions that prevail in the U.S.-China relationship, observes remain skeptical over the United States and China reaching a trade deal to overcome differences.

The British pound struggled to find direction after the latest round of Brexit negotiations ended without a breakthrough.

EU officials have reportedly given the U.K. government 48 hours to table fresh concrete proposals to change the backstop in order to break the Brexit deadlock.

Global growth worries also persist after the Organization for Economic Co-Operation and Development cut forecasts again for the global economy in 2019 and 2020, saying that trade disputes and economic uncertainty over Brexit would hit world commerce and businesses.