London — Gold prices climbed to one-week highs on Friday, boosted by a lower dollar and economic and political uncertainty around the world, but the prospect of further interest rate rises in the United States limited gains. Spot gold was up 0.6% at 1,257.1 an ounce at 13.20pm GMT after earlier touching a session high at 1,258.81. US gold futures rose 0.7% to 1,257.9. However, gold is little changed from last week. "The broad story is the tug of war between the Fed, which seems determined to push on with monetary tightening and reducing its balance sheet and political uncertainty," said Danske Bank analyst Jens Pederson. Allegations of ties to Russia have cast a shadow over US President Donald Trump’s first five months in office, North Korea testing a rocket engine and Brexit negotiations are all fuelling concern about global stability. "Political noise out of Washington regarding Trump’s ties with Russia is unlikely to provide lasting support to gold while an escalation of the geop...
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