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Gold hits near one-month high on U.S.-China trade detente

Reuters  |  BENGALURU 

By Swati VermaBENGALURU (Reuters) - Gold climbed to a near one-month high on Monday as the dollar weakened after the United States and China agreed during the G20 summit in Argentina to a temporary truce in their trade war.Spot gold rose 0.7 percent to $1,230.81 per ounce at 1015 GMT, having touched its highest level since Nov. 7 at $1,232.22 earlier in the session.U.S. gold futures gained 0.9 percent to $1,236.50 per ounce."The appeal of U.S. dollar as a safe haven is softening and that leads to a rising gold price," said Julius Baer analyst Carsten Menke."This is very much as expected under ...

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First Published: Mon, December 03 2018. 16:13 IST