Gold edged up on dollar weakness, which prompted investment into the metal as an alternative asset, and also on high oil prices, with Brent crude just a few dollars off an all-time high of 78 usd per barrel.
Gold was 'reasonably firm because the dollar is weak; that's the dominant feature,' said SocGen analyst Steven Briggs. He pointed out, however, the precious metal has performed poorly in the past two weeks while the dollar has lagged.
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Gold Rose on Weak Dollar and High Crude Price
Gold climbed up on dollar weakness, which prompted investment into the metal as an alternative asset.
