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Gold rises as weak U.S. data dampens rate hike expectations

Reuters 

By Peter HobsonREUTERS - Gold rose as U.S. political turmoil, a missile test by North Korea and a worldwide cyber attack fuelled demand for safe-haven assets, while weaker than expected U.S. data pushed the dollar lower, making gold cheaper for holders of other currencies.Spot gold was up 0.4 percent at $1,233.69 an ounce at 1348 GMT on Monday, on track for a third day of gains after hitting an eight-week low of $1,213.81 last week. U.S. gold futures gained 0.5 percent to $1,233.60."Continued unpredictability of the Trump administration, North Korea flexing its muscles again and weaker data ...

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First Published: Mon, May 15 2017. 19:33 IST
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