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Abstract:Precious-gold Steadies As Weaker Stocks Offset Stronger Dollar
Gold prices steadied on Tuesday as Asian stocks traded lower, outweighing a firmer dollar and U.S. Treasury yields.
Spot gold was little changed at $1,845.19 per ounce by 0037 GMT, after touching its lowest since Dec. 2 in the previous session. U.S. gold futures eased 0.3% to $1,845.90.
In Asia trading, Japan's Nikkei slipped 0.48%, South Korea's KOSPI fell 0.91% and Hong Kong's Hang Seng index futures lost 0.54%.
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Worries about how the European Central Bank will react also undermined sentiment after Germany's Bundesbank chairman Joachim Nagel lashed out at the ECB's plans to try and protect heavily indebted countries from sharp increases in lending rates.