Gold maintains level near one-month highk as dollar and world markets slump
London — Gold held near its highest in a month on Monday in thin holiday trade, with a softer dollar and a retreat in stock markets helping the metal cling on to the previous session’s gains. Gold hit its highest since May 1 on Friday at $1,269.50 an ounce, as nervousness over US President Donald Trump’s negotiations with other world leaders at the Group of Seven (G-7) summit prompted investors to buy bullion as an alternative to nominally higher-risk assets such as shares. Spot gold was up 0.1% at $1,267.74 an ounce at 10.05am GMT, with US gold futures for June delivery down 0.1% at $1,267.30. A 0.1% retreat in the dollar index underpinned prices, but moves were muted, with traders in the US, London and China all out for national holidays. "Potential for prices is limited right now, but with the news from the G-7 meeting and the weaker dollar, the gold price has gone up," said LBBW analyst Thorsten Proettel. Under pressure from G-7 allies, Trump on Saturday backed a pledge to fight...
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