Bengaluru — Gold prices rose for a fourth straight session, helped by a rally in base metals that has fuelled concern about inflationary pressures. Lingering trade tension between the US and China is lending further support to gold. Spot gold was up 0.2% at $1,351.51 an ounce at 4.41am GMT, a day after it touched a one-week high of $1,355.74. US gold futures rose 0.1% to $1,354.50 an ounce. "Gold shot up in glittering fashion on haven demand, while catching a fillip from the underlying move in commodity prices," said Stephen Innes, head of Asia-Pacific trading at Oanda in Singapore. Resources stocks surged in Asia on Thursday as oil prices climbed to their highest in over three years. Aluminium prices reached their highest since 2011, alumina touched a record peak and nickel jumped the most in six-and-a-half years. "With base metals rallying quite strongly, it could lead to higher inflation…. Gold could be used as a hedge against inflation risk," OCBC analyst Barnabas Gan said. Conc...
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