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Gold gains as U.S.-China trade truce triggers dollar sell-off

Reuters 

By K. Sathya Narayanan(Reuters) - Gold gained one percent on Monday, hitting its highest in more than three weeks, boosted by a sell-off in the dollar after the United States and China called a truce on fresh trade tariffs for 90 days.Meanwhile, palladium soared to a record, putting it about $12 short of parity with gold.Spot gold was up 0.78 percent at $1,231.35 per ounce, its highest since $1,234.87 on Nov. 7.U.S. gold futures settled up 1.1 percent at $1,239.60."Mainly it's the weakness in the dollar today ... Dollar was down with respect to most of the currencies as a result of the ...

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First Published: Tue, December 04 2018. 07:05 IST
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