|Published : 13 Apr 2017, 13:28:20|
Gold hits five-month high on weaker dollar
Gold hit a five-month peak on Thursday as the US dollar slid after President Donald Trump said he preferred lower interest rates with the greenback "too strong".
Rising US tensions with Russia, North Korea and Syria after US missile strikes in Syria last week and the moving of US warships toward the Korean Peninsula have kept traders cautious.
Spot gold was up 0.1 per cent at $1,286.80 per ounce by 0100 GMT, after hitting its strongest since Nov10 at 1,287.31.
US gold futures edged up 0.8 per cent to $1,287.90.
Goldman Sachs on Wednesday maintained its near-term target for gold at $1,200 per ounce and 12-month target at $1,250 per ounce, according to Reuters.