Gold gets a little lift from political ructions and a dip in the dollar
US President Donald Trump has acknowledged there is uncertainty over his summit with North Korea
Bengaluru — Gold prices made modest gains on Thursday, after touching their lowest level this year on Wednesday. Thursday’s rise came thanks to geopolitical uncertainty and a slightly weaker dollar. Spot gold had risen 0.25% to $1,293.43 an ounce by 2.55am GMT, after marking its lowest since December 27 in the previous session at $1,286.20. US gold futures for June delivery were 0.1% higher at $1,292.80 an ounce. The dollar slipped against major rivals on Thursday after it hit a year-to-date peak overnight, while the euro hovered near a five-month low on concern that political developments in Italy could cause wider disruptions in the common currency bloc. "The tug-of-war between risk appetite and dollar strength will be key in determining how gold may move," OCBC analyst Barnabas Gan said. "We have already seen some potential safe-haven buying … given the potential breakdown in US-Pyongyang talks, despite a stronger greenback," Gan said. US President Donald Trump acknowledged on We...
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