Gold recoups losses, but firm equities weigh

Precious metal

Currencies have been volatile after a Group of Seven statement earlier this week on exchange rates, designed to calm talk of a currency war, instead triggered fresh concerns.

U.S. gold for April delivery was little changed at $1,644.50 an ounce.

The physical market was subdued in Singapore after seeing buying interest from Indonesia and Thailand earlier this week, keeping premiums steady at $1.20 to the spot London prices.

"I think gold has to break $1,639 or even lower before we can see bargain hunters coming in," said a dealer in Singapore. "Nowadays the current ranges are no surprise to hunters."

SPDR Gold Trust GLD, the world's largest gold-backed exchange-traded fund, said its holdings fell 0.07 percent to 1325.99 tonnes on Wednesday from 1326.89 tonnes on Tuesday.

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