London — Gold crept higher on Friday as investors opted for the safe-haven qualities of bullion due to uncertainty about US and European politics as well as the direction of stock markets. Global equity markets lost momentum after setting record highs in the previous two sessions, partly due to disquiet about the policies of US President Donald Trump. "Gold is close to its recent multimonth high despite the strong dollar, due to an increase in volatility on the equity markets and more uneasiness on the political front, which is supporting the search for safe-haven assets," said Eugen Weinberg, head of commodity research at Commerzbank. Spot gold gained 0.2% to $1,241.66/oz by 10.36am GMT, while US gold futures added 0.1% to $1,242.80. Gold, on track for a third week of gains, has risen about 7.5% in 2017. Concern over Trump’s policies, as well as elections in the Netherlands, France and Germany this year, fuelled gold’s rise to a peak of $1,244.67 on February 8, the strongest in nea...
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