Gold hovers on $1 300 mark

GOLD IS taking aim at $1 300 (R16 594.70) an ounce. The metal has rallied to the highest since November as investors position themselves for the outcome of the UK election and potential drama of former FBI Director James Comey’s testimony, while also tracking tensions in the Middle East. Bullion for immediate delivery was at $1 293.04 an ounce at 9.48am in London, holding near Tuesday’s intraday peak of $1 296.15, the highest level since November 9, according to Bloomberg generic pricing. The climb has been supported by a fall in the dollar, which has sunk to the lowest since October. Gold is 13 percent higher in 2017, and a Bloomberg survey this week signals more gains. – Bloomberg