Weak dollar boost Gold in January so far

London (Jan 16)  Gold prices touched the highest level since early September during the European trading session on Monday, with gold mainly supported by a falling U.S. dollar, according to BMO Capital Markets analyst Colin Hamilton.

“This continues the trend of January being a strong month for precious metals, and suggests that underlying investment demand remains robust,” said Hamilton.

 A key trigger to keep an eye on this week is the risk of the potential U.S. government shutdown if “a budget deal [is] not be agreed by Friday,” added Hamilton.

 Spot gold was last at $1,341.50, up 0.30% on the day after hitting the highest level since September 8 at $1,344.44.

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