Gold Around $1271 on Iraq Concerns

Gold traded near a 3 week high on Monday, as turmoil in Iraq lifted the metal’s safe-haven appeal.

The yellow metal was weighed down by technical selling after it failed to rise above its 50-day average near $1,285 an ounce.

Spot gold eased 0.2 percent to $1,274 an ounce, having hit its highest since May 27 at $1,284.85 earlier in the session. U.S. COMEX gold futures for August delivery rose $1.20 to end at $1,275.30 an ounce.


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