Spot gold rose for a fifth straight week last week, gaining 1.4%. Photo: MintBengaluru: Gold prices on Monday hit their highest since September, buoyed by a weaker US dollar, which slumped to three-year lows against a basket of currencies. Spot gold was up 0.2% at $1,340.72 an ounce by 0302 GMT, after touching its strongest since 8 September at $1,342.06Spot gold rose for a fifth straight week last week, gaining 1.4%. “While the weaker dollar remained gold’s primary driver, investors are keeping an eye on the simmering geopolitical hot spot in the Middle East,” said Stephen Innes, APAC head of trading at OANDA. The metal has seen a sustained rally from high demand in the auto industry amid a supply deficit, analysts said.

Source: Mint January 15, 2018 05:26 UTC