LONDON: Gold steadied on Wednesday as gains in the dollar pulled the metal down from earlier highs, and overall sentiment stayed with the bears as outflows from bullion funds showed no sign of slowing.

Market participants were also digesting news that Swiss regulator FINMA said it had found a “clear attempt” to manipulate precious metals benchmarks during its investigation into precious metals and FX trading at UBS. Spot gold was flat at $1,164.65 an ounce by 1451 GMT, off an intraday high of $1,169.90. It rose 1.2 per cent on Tuesday.

Published in Dawn, November 13th, 2014