Gold Futures Steady in N.Y. as Dollar Pares Earlier Gains

Gold futures rose, erasing earlier losses, as the dollar pared gains, boosting the appeal of gold as an alternative asset.

The dollar slid less than 0.1 percent against a basket of 10 currencies after rising as much as 0.2 percent. Gold futures were also helped by a Bank of England vote to keep the benchmark rate at a record-low 0.5 percent for now, George Gero, a vice president of global futures at RBC Capital Markets in New York, said by telephone.

Gold futures for December delivery advanced 0.1 percent to $1,086.60 an ounce at 9:37 a.m. on the Comex in New York. The metal fell as much as 0.3 percent earlier.

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