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Gold Rises

Gold RisesGold Rises

The price of gold edged higher on Monday, partly lifted by steady flows into exchange-traded funds and a dip in the dollar after touching seven-month highs, Reuters reported. Spot gold was up 0.2% at $1,253 an ounce, having fallen nearly 0.6% on Friday to a low of $1,247.01, its weakest level since Oct. 7. US gold futures fell 0.1% to $1,254 an ounce. Holdings of the largest gold-backed ETF, New York’s SPDR Gold Trust, rose 0.40% on Friday from Thursday. Total EFT gold holdings have gained 679,335 ounces so far this month to 57.35 million ounces, according to Reuters data.

 

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