Gold rises to two-month high on Trump policy uncertainty, dollar drop

Gold prices rose on Monday to the highest in two months as investors sought safer assets amid uncertainty around the economic policies of new U.S. President Donald Trump and as the dollar declined against other major currencies.

 

Spot gold rose 0.7 percent, to $1,217.81 per ounce by 0303 GMT. It earlier touched a high of $1,219.43, the most since Nov. 22.

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U.S. gold futures were up 1.1 %, to $1,218.20 at 0303 GMT.

 

SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.2 % to 809.15 tonnes on Friday from 807.96 tonnes on Thursday. 

 

The dollar index, which measures the greenback against a basket of currencies, fell for a second day by 0.4 % to 100.310.

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