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Gold up, touches 2-week peak but still near December lows

Reuters  |  NEW YORK/LONDON 

By Renita D. Young and Eric OnstadNEW YORK/LONDON (Reuters) - Gold rose on Monday, touching its highest in two weeks as the dollar weakened and the Chinese yuan recovered from June's lows, and gold stayed higher even as the dollar bounced up, as some investors bought bullion to cover short positions.Some traders noted that gold was still mired near lows hit in December.Spot gold increased 0.3 percent to $1,258.52 per ounce by 1:36 p.m. EDT (1736 GMT). The session high of 1,265.87 was its highest since June 26.U.S. gold futures for August delivery settled up $3.80, or 0.3 percent, at $1,259.60 ...

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First Published: Mon, July 09 2018. 23:49 IST