Bengaluru — Gold rose on Thursday for a second consecutive session as the dollar remained weak, making the metal cheaper for buyers in other currencies, also supported by good physical demand in Asia. Spot gold was up 0.3% at $1,199.36 at 2.29am GMT, after rising 0.5% in the previous session. US gold futures rose 0.3% at $1,205/oz. "A bit of weakness in the US dollar has stabilised some of the selling [in gold] we saw earlier in the week," ANZ analyst Daniel Hynes said. "That was also supported by relatively positive signs of physical demand, in particular in India. That seems to have also boosted sentiment a little," Hynes said. A further weakness in the greenback should help gold sustain the momentum, he said. Gold has tumbled more than 12% from a peak of $1,365.23 in April. Present levels have invoked a lot of physical buying in not just active gold buying countries like India and China, but in Southeast Asia for investment purposes too, traders and analysts said. India’s gold im...
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