Bengaluru — Gold prices inched higher on Monday, extending their recovery from a 17-month low, amid the lingering concern over the US-China trade conflict, while a stronger dollar capped the safe haven’s gains. Spot gold was up 0.2% at $1,215.71/oz at 4.10am GMT, building on its 0.5% gain on Friday. US gold futures were little changed at $1,223.70/oz. "Gold is still very much being influenced by how the dollar is moving. The uptick in gold prices is from the market pricing in how the US-China trade war issues actually play out," OCBC analyst Barnabas Gan said. Gold prices rebounded on Friday from a 17-month low of $1,204/oz as dollar slipped after data showed US job growth slowed in July. The dollar also weakened against the yuan on Friday after the Chinese central bank sought to stabilise its currency. The greenback, however, regained footing on Monday and strengthened against major peers. China proposed retaliatory tariffs on $60bn worth of US goods on Friday, further escalating a...
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