30/12/2018
Bengaluru: Reuters
Gold jumped to the highest level in more than six months today amid the demand for safe haven in light of concerns about the growth of the global economy and the partial closure of the US government, although stock gains dampened the rise of the yellow metal.
Gold rose 0.5 percent to $ 1281.08 an ounce by 0713 GMT and is heading for the second consecutive weekly gain with no end in sight of US-China trade tensions and US political uncertainty.
The yellow metal hit its highest level since June 19 at $ 1281.39 an ounce earlier in the session.
Gold futures in US futures rose 0.2 percent to $ 1283.2 an ounce today.
The dollar index measures the performance of the greenback against a basket of six currencies, which is increasing gold's appeal by making it cheaper for holders of other currencies.
Among other precious metals, Silver rose to a five-month high of $ 15.342 an ounce, as it rose 1 percent to $ 15.34 an ounce in the latest trading.
Silver is heading for the best weekly performance since August 2017.
Platinum rose 0.1 percent to $ 796.74 an ounce, while palladium dropped 0.8 percent to $ 1264.90 an ounce.
Palladium rose about 3 percent this week.
