BENGALURU: Gold prices climbed on Monday, holding ground near a six-month high hit last week, as investors remained concerned about political uncertainty in the United States and global economic slowdown. Spot gold was up 0.6 percent at $1,263.91 per ounce as of 0458 GMT. Signs of political instability in the United States at a time when the global economy is weakening sent equities sliding, further boosting demand for gold. “Investors will start allocating some funds to gold considering that global growth is slowing and equity markets remain muted. Also, holdings of the SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 0.5 percent to 772.67 tonnes on Friday.

Source: The Star December 24, 2018 05:15 UTC