LONDON: Gold prices hit a one-month high on Monday as a weaker dollar and political turmoil in the United States boosted sentiment ahead of the Fed’s monetary policy meeting this week.

Spot gold was up 0.1 per cent at $1,255.79 an ounce at 1401 GMT, having touched $1,257.18, its highest since June 26. US gold futures were up 0.1pc at $1,256.00.

A lower US currency makes dollar-denominated gold cheaper for holders of other currencies, potentially boosting demand. A falling dollar helped to lift gold by more than 2pc last week.

Silver gained 0.2pc to $16.50 an ounce, platinum rose 0.1pc to $934.80 and palladium was up 0.4pc at $848.25.

Published in Dawn, July 25th, 2017