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Gold at highest since May 1 on political uncertainty, dollar weakens

Gold is used as an alternative investment during times of political and financial uncertainty

Reuters  |  London 

Gold hit its highest in nearly four weeks on Friday in response to a weaker dollar and political uncertainty that led investors to shun riskier assets in favour of bullion. "We have had the political noise coming from Trump and the US administration and there is a certain element of uncertainty in the markets in general, which is supporting gold. Equities are also down," analyst Carsten Menke at Julius Baer in Zurich said. Leaders of the world's rich nations face difficult talks with Donald Trump at a G7 summit in Sicily on Friday after the U.S. president criticised ...

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First Published: Fri, May 26 2017. 16:17 IST