MTECHTIPS

MTECHTIPS:-Gold futures hold steady with IMF, EU meetings in focus
Gold futures held steady in rangebound trade during European morning hours on Tuesday, as ongoing concerns over the health of the global economy boosted demand for the U.S. dollar.Uncertainty over whether Spain will soon request a full scale sovereign bailout also remained.On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,774.95 a troy ounce during European morning trade, easing down 0.05%.Prices were stuck in a narrow trading range of USD1,771.95 a troy ounce, the daily low and a sessio high of USD1,781.55 a troy ounce. Gold prices were likely to find support at USD1,765.75 a troy ounce, the low from October 1 and near-term resistance at USD1,793.85, October 1’s high. Market sentiment came under pressure after the International Monetary Fund cut its global growth forecasts and warned of even slower expansion unless officials in the U.S. and Europe address threats to their economies. The IMF said that the world economy will grow 3.3% this year, the slowest since the 2009 recession, and 3.6% next year, compar