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Gold inches higher as US-China trade optimism pressures dollar

Updated : August 20, 2018 09:31 AM IST

Investors seeking a safe place to store assets amid trade disputes and a Turkish currency crisis have preferred the dollar to gold, undermining the reputation of bullion as a safe-haven. 
Spot gold rose 0.1 percent to $1,185.31 an ounce at 0245 GMT. Last week, it touched its lowest since January 2017 at $1,159.96.
The dollar index, which measures the greenback against a basket of six currencies, was at 96.175 on Monday, after hitting its highest since June 2017 last week. The index suffered its worst one-day decline in nearly a month on Friday.
Gold inches higher as US-China trade optimism pressures dollar
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