Bengaluru — Gold held near its highest in four weeks on Monday after rising almost 1% in the previous session, buoyed as geopolitical tension boosted its safe-haven appeal. Spot gold was flat at $1,266.19/oz at 4am GMT. On Friday, it climbed 0.9% to touch its strongest since May 1 at $1,269.50. US gold futures slipped 0.2% to $1,265.8. Political tension surrounding US President Donald Trump was providing some safe-haven support for gold, OCBC analyst Barnabas Gan said. The market was also watching out for the Federal open market committee meeting in June for any cues on US Federal Reserve’s stance on interest rate increases and balance sheet reduction intentions, Gan added. Trump attacked the media and dismissed leaks from the White House as "fake news" on Sunday, following reports his son-in-law tried to set up a secret channel of communications with Moscow before he took office. The ongoing furore has raised concern about his ability to push through promised fiscal stimulus. Gold,...
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