Gold touched a 4-week high on Monday supported by the US dollar’s fall to a fresh 13-month low, due to political uncertainty in US and weaker equities.
Spot gold was trading up 0.1% at USD 1,255.92 per ounce at 0033 GMT. It hit a 4 week high of USD 1,257.18 an ounce in early trade, having risen 2.1% last week.
US gold futures for August delivery rose 0.1% to USD 1,256.00 per ounce.
Asian stocks slipped as demand for riskier assets retreated after recent strong gains.
The dollar struggled near its 13-month low against a basket of major currencies on Monday as the US political woes dampened hopes for the quick passage of President Donald Trump’s stimulus and tax reform agendas.
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