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Thursday, November 18, 2010

Gold holds gains as Ireland worry eases


(Reuters) - Gold prices steadied on Friday, holding onto gains from the previous session, as a cure is seen imminent for Ireland's debt crisis, which helped boost the euro.

Ireland insisted on Thursday its low rate of corporation tax was "non-negotiable" as it discusses an aid package worth tens of billions of euros from European partners and the IMF for its shattered banks.

Spot gold was little changed at $1,352.94 an ounce by 0341 GMT, on course for a 0.8-percent weekly decline.

U.S. gold futures was trading at $1,352.6.

Investors are closely watching China's monetary policy maneuver, after talks of an imminent rate hike have been circulating and caused sell-off in commodities earlier in the week.