Gold steadies as traders weigh war

Federal Reserve officials signalled they remain on track to raise interest rates next month.They stressed the need to confront the hottest US inflation in 40 years

HONG KONG: Gold held a decline amid a rebound in stock markets as investors remained on edge while assessing the impact of Russia’s invasion of Ukraine and Western sanctions.

European shares surged the most in a month as risk sentiment improved following yesterday’s sharp sell-off. Bullion fell on Thursday after surging to the highest in more than 17 months as traders digested a new round of sanctions on Russia following the country’s attack on its neighbour.