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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.

CNBC [1]

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