FX.co ★ Gold Steadies Near Six-month Lows

Gold prices steadied near multi-month lows on Thursday after a significant drop, driven by the robust U.S. dollar and elevated bond yields.

Spot gold edged up 0.1 percent to $1,876.57 per ounce, after having reached its lowest point since March. U.S. gold futures were up 0.2 percent at $1,893.65.

Bullion prices struggled to gain any meaningful traction due to rising bets for further policy tightening by the U.S. Federal Reserve.

At lower levels, gold is finding some support from concerns around China's property market and a possible U.S. government shutdown.

Risk-off mood prevails in financial markets after reports emerged that the chairman of China Evergrande Group had been placed under police watch amid mounting liquidation risk.

U.S. economic data on GDP, personal consumption expenditure and jobless claims may attract investor attention later in the day ahead of remarks by Fed Chair Jerome Powell due to begin at the close of trading.

The personal consumption expenditures price index, the Fed's preferred inflation gauge, is due on Friday.