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Gold price little changed on geopolitics uncertainty

Reuters | Published: August 21, 2017 07:37:01 | Updated: October 24, 2017 13:35:20


Gold prices were little changed on Monday as investors sought further direction after a week of geopolitical uncertainty in the United States and Europe.

Spot gold edged 0.1 per cent higher at $1,286.01 an ounce by 0640 GMT, while US gold futures for December delivery were flat at $1,291.70 per ounce. 

The metal surged to its highest since November on Friday when political and security concerns in the United States and Spain jangled investors' nerves and stoked demand. 

Asian stocks and the dollar were little changed on Monday as concerns around Trump's ability to deliver on pro-growth policy promises lingered among investors.

Investors are also wary of any flare-up of tensions between North Korea and United States as US troops and South Korean forces started a joint exercise on Monday.

Markets are also looking ahead to a top central bankers meeting later this week in Jackson Hole, Wyoming.

Gold is highly sensitive to rising US interest rates, as higher rates increase the opportunity cost of holding non-yielding bullion, reports Reuters.

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