Gold settled modestly higher on Monday as the dollar eased, and after a recent sharp unwinding of bullish bets by funds prompted some investors to think the metal was near a bottom.
With a lack of major U.S. economic indicators on Monday, bullion investors focused on Chinese data that showed annual consumer inflation unexpectedly slowed in November, easing market fears of any imminent policy tightening, which is a positive for gold.
Spot gold rose 0.6 percent to $1,236 an ounce. Most Asian share markets rose, energized by a potent cocktail of upbeat Chinese trade data, a weaker yen and a firm finish on Wall Street.
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.