Gold hov­ers on $1 300 mark

The Star Early Edition - - BUSINESS REPORT -

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

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