Gold's back in vogue as trade-war risks fester and financial markets look ahead to next week's Federal Reserve meeting, when policy makers may do more to pave the way for a U.S. interest rate cut.
Spot bullion climbed as much as 0.8% to $1,337.25 an ounce as silver rose. Prices hit $1,348.31 last week, the highest since April 2018, after a feeble U.S. payrolls report. Exchange-traded fund holdings have expanded for three of the past four weeks, and central banks, including China's, are bulking up reserves.
Bullion, which has risen about 4.2% this year, traded 0.7% higher at $1,335.61 at 8:09 a.m. in London. Last week, global ETF holdings surged 1.9%, or by almost 43 tons, to post the biggest weekly increase in more than two years.
Source : Bloomberg