Gold ticks higher on softer dollar; cenbank meetings in focus
Monday, 11 June 2018 08:31 WIB | PRECIOUS METALS |GOLDEMAS Spot EmasEmas berjangka

Gold prices edged higher in early Asian trade on Monday as the dollar softened ahead of key central bank policy meetings and the U.S.-North Korea summit this week, and as a weekend G7 summit fanned trade war fears.

Spot gold was up 0.1 percent at $1,298.78 per ounce at 00:49 GMT.

U.S. gold futures for August delivery were nearly unchanged at $1,302.80 per ounce.

The dollar index, which measures the greenback against a basket of six major currencies, was down 0.1 percent at 93.452.

Tightening policy by a notch just one day apart, the world's top two central banks will hope to signal confidence in global economic growth, despite risks of a trade war, currency swings and political turbulence.         

U.S. President Donald Trump arrived in Singapore on Sunday for a historic summit with North Korean leader Kim Jong Un that could lay the groundwork for ending a nuclear stand-off between the old foes and the transformation of the isolated Asian nation.

Source: Reuters

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