London — Gold touched a near one-week high on Monday as investors opted for safe-haven assets, on political uncertainty in Italy and fears of a potential escalation of a simmering global trade war. Gold is often seen as an alternative investment during times of geopolitical and financial uncertainty, benefiting along with other haven assets such as the yen and US treasuries while stocks tend to trend lower. Spot gold was up 0.3% to $1,325.91 per ounce by 11.05am GMT after touching its highest since February 27 at $1,327.86. US gold futures for April delivery rose 0.3% to $1,327.20 per ounce. "There are fears that a global trade war or protectionist measures will undermine global growth," said Societe Generale’s head of metals research Robin Bhar. "People have wanted gold as a hedge against those looming uncertainties". The dollar index was steady, having touched its lowest in almost a week earlier in the session. The US currency slipped from its six-week high that it touched on Marc...
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