Gold peaked in a week as the dollar fell

UNITED STATES (OBSERVATORY) –¬†Gold touched a week high on Wednesday as the dollar fell to a two-week low as geopolitical factors fueled demand for the metal as a safe haven.

By 0704 GMT, the spot price of gold was up 0.4 percent at $ 1344.16 an ounce, extending gains for a fourth consecutive session. Earlier, prices hit a one-week high of $ 1345.35 an ounce.

US gold futures rose 0.2 percent to $ 1,348 an ounce.

“There are many things going on at the same time – the (US-China) trade war, a possible US attack on Syria could develop into a confrontation between the United States and Russia, and so have a very strong impact on markets,” said Yuichi Ikizu, Tokyo branch manager of CIB Standard. gold.”

Silver rose 0.3 percent to $ 16.60 an ounce in spot trade.

Platinum rose 0.7 percent to $ 930.15 an ounce, while palladium fell 0.3 percent to $ 949.50.