Gold was steady on Thursday after sharp falls the previous day
Gold was steady on Thursday after sharp falls the previous day, with Japanese investors out of action due a long holiday, but lower prices could trigger more purchases from jewelers and investors.
The Tokyo gold futures market was closed for the Golden Week holiday. Trading resumes next Monday.
Spot gold dropped to $672.85/673.35 an ounce from $673.00/673.50 an ounce late in New York on Wednesday.
Gold has made several attempts to re-test $700, a level last seen in May 2006, but gains had been capped by profit taking.