Gold inches higher, but is on track for worst month since November 2016
Bengaluru — Gold rose early Friday after slipping to a more than six-month low in the previous session, as the dollar retreated from recent highs amid a rising euro, but the metal was on track for its worst month since November 2016. Spot gold was 0.2% higher at $1,250.90/oz, as of 5.02am GMT. On Thursday, it touched $1,245.32, its lowest since December 13 2017. "We’ve seen a pop-up in euro which put a bit of pressure on dollar, so gold is being bought. I don’t think it is going to be long-lived. Europe will come in and sell and dollar is probably still firm," a Hong Kong-based trader said. Gold was on track for its third consecutive weekly decline, having slipped 1.4% so far this week. Spot gold was down about 3.6% for the month, heading towards its worst monthly loss since November 2016. US gold futures were up 0.1% at $1,252.50/oz. The euro jumped more than a half cent on Friday after EU leaders reached an agreement on migration, a thorny issue that has threatened EU unity and th...
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