(Feb 8): Gold rallied on Wednesday, hitting a fresh three-month peak as political risks posed by elections in Europe and worries over US President Donald Trump's policies stoked safe haven demand. "There's underlying demand for gold as a hedge against political uncertainties on both sides of the Atlantic," said Ole Hanson, head of commodity strategy at Saxo Bank. Spot gold rose 0.7% to US$1,241.70 per ounce by 1508 GMT, having earlier touched its highest since Nov 11 at US$1,244.67. Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, climbed 1.01% to 826.95 tonnes on Tuesday from Monday. "Platinum should be lent buoyancy primarily by the rise in the gold price that we are forecasting," it saidPalladium rose 0.6% to US$765.75.

Source: The Edge Markets February 08, 2017 16:18 UTC