The world’s second-biggest bullion consumer slashed import duties on gold and silver to 6 per cent from 15 per cent
Spot gold was little changed at $1,845.34 an ounce as of 8:52 a.m. in Singapore, after falling 0.5 per cent on Monday
Bullion is trading near a two-week low amid an ongoing discussion on whether the Fed will shift to less aggressive rate hikes
Traders are awaiting more clarity on central bank action to tackle searing inflation
Bullion is hovering above the $1,700 an ounce level as it continues be pressured by the strength in the US dollar
Bullion on Wednesday bucked a downward trend that’s seen it slide for four consecutive weeks
Spot gold fell 0.5 per cent to $1,725.05 an ounce in Singapore, after falling 0.5 per cent in the previous session
The gold price decline in recent months has come as the US central bank started its hiking cycle
Bullion has eased after rallying to within $5 of a record last week
Gold is holding above $1,800 an ounce after dropping for the first time in three years in 2021
Spot gold steadied at $1,755.18 an ounce at 9.40am in Singapore, after retreating 0.2 per cent on Monday