Gold prices hold steady as dollar eases

Gold prices held steady on Thursday, after rising nearly a percent in the previous session, as the dollar retreated further from a 16-month peak against a basket of currencies.

Fundamentals

* Spot gold was little changed at $1,210.65 per ounce at 0055 GMT.

* U.S. gold futures were flat 0.1 percent at $1,203 per ounce.

* The dollar index , which measures the greenback against a basket of six major currencies, was down about 0.1 percent, nudged down by firmer pound and euro.

* British Prime Minister Theresa May won the backing of her senior ministers for a draft European Union divorce deal on Wednesday, freeing her to tackle the much more perilous struggle of getting parliament to approve the agreement.

* Paulson & Co, led by longtime gold bull John Paulson, kept its stake in gold investments during the third quarter of 2018 while other heavyweights including Soros Fund Management LLC, Jana Partners LLC and Caxton Corp remained unexposed to the metal.

* Pan American Silver Corp said Wednesday it has agreed to buy Tahoe Resources Inc in a $1.07 billion cash and stock deal that would create a top global silver miner but also include some troublesome assets.

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