London — Gold climbed on Monday to its highest level in more than seven weeks on buying fuelled by political uncertainty after US president-elect Donald Trump’s comments on Nato and the "One China" policy. Spot gold was up 0.4% at $1,202.4/oz at 10.36am GMT from an earlier $1,207.86, it highest since November 23. US gold futures were up 0.5% at $1,202.50/oz. Last week Trump said the "One China" policy on Taiwan was up for negotiation. China retaliated by saying it would "take off the gloves" and act strongly if US president-elect Trump continues to "provoke" once he assumes office. His comments on Nato being obsolete have also made investors nervous. "There’s the tussle between China and the US over Taiwan. Trump has been talking to Taiwan, which the Chinese do not like. His comments on Nato are seen as negative," said Julius Baer analyst Carsten Menke. Investor interest can be seen in the largest physically backed exchange traded funds (ETFs), New York’s SPDR Trust, whose holdings ...
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