Gold holds gains despite dollar's surge

Gold prices settled near a nine-month low on Thursday, shrugging off the dollar's surge against main rivals as the precious metal relies on strong technical support.
 
Gold last traded at $1,172.8 an ounce, up from the opening price of $1,174.5, with a session-low at $1,169.1, and a one-month high at $1,178.5.
 
Gold steadied today near a strong technical support that kept buoying the metal even as the dollar mounts pressure on the safe haven.
 
The dollar on the other hand jumped versus main currencies away from a three-week low following the European Central Bank's meeting, which bashed the euro and underpinned the greenback.
 
Gold prices remain under pressure due to expectations of a Fed rate hike during the central bank's next week meeting, which would weigh negatively on gold prices.