Gold closes near 11 week high, dollar subdued
Gold jumps towards 11 week high, as subdued dollar and worries about the political landscape in the United States and Europe rekindled investor interest.
Spot gold rose 0.2% to $1,222.74 an ounce by 1106 GMT, having earlier hit $1,225.06, within touching distance of last week’s peak of $1,225.30.
US gold futures hiked 0.3% to $1,224.60.
Spot silver rose 0.5 % to $17.55 an ounce; while platinum was up 0.3% at $1,006.16; and palladium added 2 per cent to touch $761.03.
Gold demand in India has slipped by 21.2% in 2016 as compared to the previous year, and stands at 675.5 tonnes.