Gold’s bullish momentum has rolled into a new week.
Prices extended their advance above $1,400 an ounce, near the highest level since September 2013, after the Federal Reserve and other central banks turned more dovish on monetary policy. This, combined with planned U.S. sanctions against Iran, as well as the coming meeting between the U.S. and China’s presidents, is creating a raft of bullish factors for the precious metal.
Spot gold climbed as much as 0.8% to $1,411.23, and traded at $1,404.92 at 7:31 a.m. in London. Prices soared 4.3% last week, the biggest gain since April 2016. A gauge of the greenback was near a three-month low.
Source : Bloomberg