Gold Near Two Month High around $1327

Gold steadied near a two-month high on Monday, as the dollar remained under pressure ahead of a week packed with economic data. The metal looked set for a second straight quarterly gain after world political tensions bolstered demand for the metal.

In wider markets, the dollar struggled to get off a one-month low against a basket of major currencies early on Monday, having posted its biggest weekly fall in over two months after a batch of disappointing U.S. data.

Gold was also supported by escalating violence in the Middle East. Iraq’s army sent tanks and armored vehicles to try to dislodge insurgents from the northern city of Tikrit on Sunday, the second day of a pushback against a Sunni militant takeover of large stretches of Iraq.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.