Gold price rises on softer dollar
The bullion was further supported by uncertainty ahead of the G20 meeting on Friday, Brexit going to vote in the UK parliament, and Russia-Ukraine aggression
Bengaluru — Gold prices rose on Monday as the dollar weakened, with uncertainties over the outcome of an upcoming G20 meeting and the future course for Britain’s exit from the EU providing further support for bullion. Spot gold was up 0.3% to $1,225.78 an ounce at 11.15am GMT. US gold futures were up 0.2% at $1,226.1 an ounce. US President Donald Trump and Chinese President Xi Jinping are expected to meet on the sidelines of a G20 summit in Argentina at the end of this week. Officials from some G20 countries, anxious to see a swift end to the Sino-US trade war, are hopeful but not confident the meeting may yield at least a partial ceasefire. “We have the G20 meeting coming this weekend and the question is whether the US and China can strike a deal,” said Saxo Bank analyst Ole Hansen, adding gold could be set to benefit anyway because he believes the dollar is “coming to the end of its strong phase.” At the same time, investors are keeping a close eye on the latest political developm...
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