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Gold hits six-month peak but heads for first annual decline since 2015


Monday, 31 December 2018 18:49 WIB

GOLDEMASEmas berjangkaSpot Gold


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Gold prices scaled a six-month high on Monday but was poised for its first annual decline since 2015 after previous declines on higher interest rates and dollar strength from the Sino-U.S. trade conflict.

Spot gold rose 0.2 percent to $1,284.09 an ounce at 1129 GMT, with a dip in the dollar helping to lift the metal to its highest since June 15. U.S. gold futures were up 0.3 percent at $1,286.30.

U.S. President Donald Trump said on Sunday that a possible trade deal between the United States and China was progressing well.

Gold prices jumped about 5 percent in December, mostly because of wild swings in equities, but it has declined nearly 1.6 percent for the year.

The dollar index was down 0.1 percent on Monday, having gained 4.6 percent this year as the U.S.-China trade conflict unfolded against a backdrop of higher U.S. interest rates, denting gold demand.

Source: Reuters


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