Gold steadied at the start of
the month on Monday, supported by slower U.S. fourth-quarter economic growth,
after ending January with its biggest monthly gain in a year.
Spot gold was little changed at $1,117.31 an ounce by
0043 GMT. Bullion ended last month with a gain of 5.4 percent, its largest gain
since January 2015.
Asian shares started a new month on somewhat firmer
footing, helped by accommodative monetary policies in Japan and Europe, but
traders were cautious ahead of China factory and service sector activity
surveys.
The market has opened on a flat note. The Sensex is up
38.58 points at 24909.27, and the Nifty is up 24.90 points or 0.3 percent at
7588.45. About 506 shares have advanced, 105 shares declined, and 31 shares are
unchanged.
The rupee opened flat at 67.77 per dollar against
Friday's close of 67.78.
Gold prices edged higher in the morning session as some investors sought refuge in the precious metal after the global stocks tumbled and the U.S.
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