Gold prices pushed up from the more than four-month low reached in recent sessions, in part as oil gains lifted the specter of inflation risk, against which gold can act as a hedge.
A decline in the U.S. dollar and some weakness in benchmark stock indexes also weighed on demand for riskier assets, providing support for haven gold.
Gold for June delivery rose $1.60, or 0.1%, to settle at $1,277.60 an ounce. It settled Thursday at $1,276, the lowest finish for a most-active contract since Dec. 26, according to FactSet data.
Gold lost 1.5% for the holiday-shortened week, with financial markets closed for Good Friday. That marked gold’s fourth weekly loss in a row, with a jump in U.S. retail figures providing support for the dollar and dulling the appeal of the precious metal.
The SPDR Gold Shares ETF edged higher Monday after it fell over 1% lower for last week.
Source : Marketwatch