Bengaluru — Gold prices rose on Tuesday, after hitting a more than one-month high earlier in the session, as the dollar stumbled after the US and China agreed to a temporary truce in their trade conflict that rattled global markets. Spot gold climbed 0.4% to $1,235.78/oz at 4am GMT. Prices touched a peak of $1,236.01 earlier in the session, their highest since November 2. US gold futures were little changed at $1,240.3/oz. “Dollar weakness is primarily driving gold prices higher,” said Benjamin Lu, a commodities analyst at Phillip Futures. “Markets seem little doubtful about the success of this Sino-US trade war truce.… It seems a bit cautious,” Lu said. The dollar weakened against its major peers on Tuesday, as the thaw in trade tensions between Washington and Beijing supported investor confidence though concerns about the fragility of the truce capped wider gains in risk assets. Analysts now expect market focus to move to the US Federal Reserve’s monetary policy. Markets are expec...
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