Gold rises to 1-week high on weaker dollar, geopolitical worries

caddis-gif-2Gold prices hit one-week highs on Tuesday, buoyed by a weaker dollar on tepid economic data from the United States and as investors turned to safe-haven assets on worries over geopolitical tensions.

Spot gold had risen 0.2 % to $1,255.51 per ounce at 0334 GMT, while U.S. gold futures were up 0.3 % at $1,257.9.

Spot gold hit its highest since March 28 at $1,257.10.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, climbed 0.53 percent to 836.77 tonnes on Monday from 832.32 tonnes on Friday.

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