Bengaluru — Gold rose on Monday, buoyed by safe-haven demand due to uncertainty over US policy ahead of president-elect Donald Trump’s inauguration and amid the concern over Britain’s exit from the EU. Spot gold had risen 0.5% to $1,203.10/oz by 2.43am GMT. US gold futures were up 0.6% at $1,203.60/oz. "Buying shows that people are looking ahead this week with Trump’s inauguration and discussions on Brexit. There is a lot of uncertainty moving forward," said Brian Lan, MD at Singapore-based gold dealer GoldSilver Central. "On the physical side, people are expecting good demand from China ahead of the Chinese New Year," Lan said. The Lunar New Year falls later in January. "We expect gold to retest $1,205-$1207 again and breaching this might see $1,220 as the next level." Spot gold faced strong resistance at $1,205/oz-$1,210/oz and it may hover below that or retrace towards support at $1,172, said Reuters technical analyst Wang Tao. All eyes will be on Trump’s inauguration on Friday f...
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