Gold prices surge amid weakening dollar and US-China trade war tensions


Gold prices rose on Monday as investors covered their short positions and the dollar slipped to its weakest since mid-June, while lingering US-Sino trade tensions supported the bullion as well. Spot gold was 0.4 per cent higher at $1,258.61 an ounce, as of 0351 GMT, while US gold futures for August delivery were up 0.

3 per cent at $1,259.90 an ounce. Gold is pushing higher on the dollar's weakness in early Asian trading, MKS PAMP Group trader Tim Brown wrote in a note. The dollar index, which measures the greenback.

This article is no longer available in our repository.

There could be multiple reasons for this.