Gold rises as dollar eases, focus on U.S. inflation data
chnical analyst Wang Tao.
"Given the move towards tighter monetary policy ... the developing bullish chart picture may be a warning that investors are buying more gold as an insurance against heightened risk of trouble ahead," ScotiaBank analysts said in a note.
Meanwhile, holdings at the SPDR Gold Trust, the world`s largest gold-backed exchange-traded fund, fell to 786.87 tonnes on Monday.
In other precious metals, silver rose 0.3 to $16.28 per ounce. In the previous session, it retouched its July 20 low of $16.10 an ounce, the weakest since July 18.
Platinum gained 0.4 percent to $966.90 per ounce and palladium inched 0.2-percent higher to $887.30 per ounce.
"Platinum is being supported by strong fundamentals as supply in comparison to the demand is a little weak," said ICBC`s Ikemizu.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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