US and European worries and weak dollar push gold to a near three-month high
The gold price climbed on Monday to its highest in nearly three months with investor interest in bullion improving thanks to a subdued dollar and political worries about the US and Europe. Spot gold was up 0.6% at $1,226.91 an ounce at 2.41pm GMT, having earlier touched $1,230.14, a level last reached on November 17. US gold futures edged up 0.7% to $1,228.90 an ounce. Political uncertainty in the US is being fuelled by President Donald Trump’s policies, the most controversial of which is a temporary ban on immigrants from seven mostly Muslim countries. A US judge put a nationwide block on Trump’s order on Friday. Elections in the Netherlands, France and Germany this year are also adding to jitters. "The initial euphoria of the Trump presidency seems to be fading and the elections in Europe are making people nervous," said ING commodities strategist Warren Patterson. "The uncertainty does mean upside for prices." "Since the start of the year we’ve seen the dollar consistently weaker...
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