Gold gains as investors weigh inversion of the Treasury yield curve, seen as a warning of recession, and Donald Trump's choice of Stephen Moore as a Federal Reserve governor.
President Trump said Friday he's nominating the former campaign adviser for the post at the U.S. central bank. Moore has called December's hike a "substantial mistake," and cheered effects of tax cuts. In a Bloomberg TV interview, Moore said that he's worried more about deflation than inflation.
Spot gold as much as +0.3% at $1,317.27/oz and trades at $1,316.93 at 7:14 am in London, set for highest close since Feb. 27 following run of three weekly gains.
Other precious metals : Spot silver +0.5% at $15.4930/oz Platinum +0.5%, palladium +0.1%
Source : Bloomberg