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Gold prices hit two-week high on short covering, weaker dollar

Reuters  |  BENGALURU 

By Karen RodriguesBENGALURU (Reuters) - Gold prices hit a near two-week high on Monday as investors covered their short positions and the dollar slipped to its weakest since mid-June, while lingering U.S.-Sino trade tensions also supported the bullion.Spot gold was up 0.5 percent at $1,260.41 an ounce, as of 0708 GMT, after touching its highest since June 26 at $1,262.06.U.S. gold futures for August delivery were 0.5 percent higher at $1,261.70 an ounce.Gold is pushing higher on the dollar's weakness in Asian trading, said Tim Brown, trader at MKS PAMP Group, wrote in a note.The dollar index, ...

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First Published: Mon, July 09 2018. 13:25 IST