BENGALURU- Gold prices rose on Monday, helped by a weaker dollar, while a delay in finding peace in Ukraine and concerns over the US tariff policy fueled safe-haven demand for the metal.
Spot gold climbed 0.3 percent to $2,866.76 an ounce. US gold futures rose 1.1 percent to $2,880.50.
The dollar index fell 0.4 percent from a more than two-week high hit in the previous session, making bullion less expensive for other currency holders.
“Today’s early Asian bullish tone in gold is likely to be driven by geopolitical risk factors due to the pushback of the anticipated peace deal between Ukraine and Russia,” said Kelvin Wong, senior market analyst, Asia Pacific, at OANDA.
Ukrainian President Volodymyr Zelenskiy’s meeting with US President Donald Trump ended in disaster on Friday, adding uncertainty to financial markets already jittery due to weakening economic data and volatility around US trade policies.
