Safe-haven buying pushes gold up as trade war brews, but dollar puts a cap

Gold prices inched higher on Monday after falling to a 5-1/2-month low in the previous session, as a trade dispute between the world's two largest economies triggered safe-haven buying, but a strong dollar put a cap on the upside. Spot gold edged up 0.1 per cent to $1,279.70 per ounce by 0255 GMT. The yellow metal touched its weakest since late December at $1,275.

01 an ounce on Friday. US gold futures for August delivery were up 0.3 per cent at $1,282.10 per ounce. "The US dollar strength is weighing on investor.

This article is no longer available in our repository.

There could be multiple reasons for this.