After four weeks of selling, hedge funds jumped back into the gold market and pushed prices to a 5.5-week high, according to the latest trade data from the Commodity Futures Trading Commission.
Gold prices rose on Monday as the dollar remained subdued on fear of a global trade war.
Uncertainty over the outcome of elections in Italy, which could spell new concerns for the eurozone, gave further support to the metal.
Spot gold was up 0.3% at $1,326.41 an ounce at 4.14am GMT. Earlier in the session, it hit ...
As “fear trade” is dwindling down and the old-guard investors are stepping back, the new generation is buying gold to “make money” rather than to hedge against risk, said one precious metals expert.
Safe-haven demand triggered by rising tension on the Korean peninsula kept gold prices on a high on Thursday. MCX Gold was trading 0.25 per cent up at Rs 28,915 per 10 gram around 10.45 am (IST).