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Gold hovers near five-week low; political tensions support

Reuters  |  BENGALURU 

By Nithin ThomasPrasadBENGALURU (Reuters) - Gold inched higher on Tuesday, supported by global political uncertainties, after touching a five-week low earlier in the session as a key U.S. Federal Reserve official reaffirmed the central bank's hawkish stance on interest rate hikes.Risk aversion due to Brexit, concerns over U.S. President Donald Trump's ability to carry out financial reforms, election results in Europe and Middle East turmoil have provided some support for gold, said Mark To, head of research at Hong Kong's Wing Fung Financial Group."We can see things are getting more ...

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First Published: Tue, June 20 2017. 13:57 IST