Bengaluru — Gold inched higher on Tuesday, supported by global political uncertainties, after touching a five-week low earlier in the session as a key US Federal Reserve official reaffirmed its hawkish stance on interest rate hikes. Risk aversion due to Brexit, concern over US President Donald Trump’s ability to carry out financial reforms, election results in Europe and Middle East turmoil have provided some support for gold, said Mark To, head of research at Hong Kong’s Wing Fung Financial Group. "We can see things are getting more complicated and investors have to take some time to put things into context," To said. Spot gold rose 0.2% to $1,244.76 an ounce by 4.31am GMT. US gold futures were nearly flat at $1,246.60. Spot prices touched a low of $1,242.61/oz early in the session, the weakest since May 17, after New York Fed president William Dudley reinforced the view that recent weak data would probably not derail plans to keep raising interest rates. Late on Monday, though, Ch...
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