Gold on Monday extended its biggest weekly gain in five weeks as the US dollar fell against the euro, while US political turmoil fuelled demand for bullion as a safe haven and reduced expectations of rapid US interest rate rises. Spot gold was up 0.3% to $1,258.72 an ounce at 1442 GMT, while US gold futures were 0.4 percent higher at $1,258.80. The metal advanced by 2.2% last week as the furore over US President Donald Trump’s alleged links to Russia and his firing of former FBI chief James Comey raised concerns about his ability to push through promised fiscal stimulus. That caused a rush to safe-haven assets such as gold and drove US stocks, the dollar and US bond yields lower, reducing the opportunity cost of holding non-yielding bullion and making gold cheaper for holders of other currencies. US stocks gained on Monday, but yields edged lower and the dollar plunged to a six-month low when the euro rallied after German Chancellor Angela Merkel said it was "too weak" for Germany. ...
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