KONTAN.CO.ID - LONDON. Gold prices rose on Monday as the dollar weakened and jitters over riots in U.S. cities, as well as rising tensions between Washington and Beijing, boosted demand for the safe-haven metal.
Monday (1/6) at 17.00 WIB, spot gold was up 0.5% to US$ 1,735.47 per ounce, having surged 1% earlier. U.S. gold futures eased 0.2% to US$ 1,748.40.
"Higher tensions between China and U.S. is bringing safe-haven buying. Tensions within the U.S. is not helping the cause, while the dollar is pretty much on its lows," said Afshin Nabavi, senior vice president at precious metals trader MKS SA.