Gold at Six Week High near 1260

Gold edged higher on Monday to its highest in nearly six weeks, supported by weaker equities, which are lifting the metal’s safe-haven appeal and improving investor confidence.

Spot gold rose 0.3 percent to $1,257 an ounce by 0012 GMT, after hitting $1,259.46 earlier – the highest since Dec. 11. Platinum gained on upcoming strikes in South Africa.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 7.49 tons to 797.05 tons on Friday – the first increase in a month.


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.