Gold Prices Hold Steady Above $4,500 Despite Slight Dip

Gold prices held above $4,500 on Thursday despite a slight dip as the US dollar strengthened.

The yellow metal traded in a narrow range of USD 19 during the session, with spot gold down 0.3 per cent or USD 11 at USD 4,511 per ounce.

The decline came after gold prices surged above $4,500 in the previous session, following a surprise announcement by the US Treasury to increase liquidity support for longer-dated US government bonds.

Yields on 30-year US Treasuries fell sharply on Wednesday from around their highest level in 19 years, which pushed bond yields and the dollar lower.