London — Gold nudged higher on Monday as the dollar wallowed near three-year lows following a US government shutdown, although bullishness in the wider financial markets capped the precious metal’s gains. World stocks shrugged off the shutdown in Washington, with investors seemingly confident the conflict between President Donald Trump and Democrats can be resolved swiftly. "We did see gold reach four-month highs last week on fears an agreement wouldn’t be reached and indeed that came to pass. "The fact that gold is a bit soft this morning suggests it was largely in the price," said Mitsubishi analyst Jonathan Butler. Spot gold edged up 0.1% to $1,332.81 an ounce by 11.28am GMT. The precious metal fell 0.5% last week, its first weekly decline in six weeks, having hit four-month highs last Monday. US gold futures were flat at $1,332.90. Keeping a lid on gold’s gains, US Treasury yields rose as investors saw limited economic fallout from the standoff in Washington and instead focused ...
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