Gold on track for best month since last summer amid weaker dollar & inflation woes ...News

Russia Today - Economy
Gold on track for best month since last summer amid weaker dollar & inflation woes
source : Russia Today ( News ) () 26
The price of gold continued to rise on Monday, headed for its best monthly performance since July. Inflationary pressure, a weaker US dollar, and lower bond yields have driven demand for the safe-haven metal as a hedge. Spot gold was up 0.4% at $1,909.81 per ounce, while US gold futures gained 0.4% to $1,913. Gold prices settled above $1,900 an ounce last week, breaching the important resistance level for the first time in around five months. Bullion has risen almost 8% this month. “Gold is pretty much drawing its strength from inflation fears and some inclination of the yields,” Stephen Innes, managing partner at SPI Asset Management,

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