Bengaluru — Gold prices edged higher on Tuesday as investors resorted to bargain-hunting after the precious metal fell to more than one-month lows, weighed down by a stronger dollar. Spot gold was up 0.3% at $1,204.22/oz at 0339 GMT, having touched its lowest since October 11 at $1,199.72 earlier in the session. US gold futures inched up 0.1% to $1,204.7/oz. “It’s been some time that we have seen this level, so we are seeing some buying here,” said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. “However, a stronger dollar has capped the market.” The dollar index, which measures the greenback against a basket of six major currencies, was sitting just shy of its 16-month high of 97.69 hit on Monday, benefiting from safe-haven flows as investors shunned riskier assets because of political uncertainties in Europe, fears of a global economic slowdown and China-US trade tensions. A firmer greenback makes bullion expensive for holders of other currencies as the commodi...
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