By
Joseph Hoppe, Dow Jones Newswires
Gold futures rise, reversing losses seen earlier in the session. Futures are up 0.9% at $3,438.30 a troy ounce.
The precious metal has gained as the U.S. dollar weakens on persistent trade and monetary policy uncertainty. With the U.S. dollar struggling to gain momentum and global investors increasingly seeking to diversify away from dollar-based assets, gold is on the uptrend, FxPro’s Alex Kuptsikevich says in a note.
This is the fourth time gold has traded above the $3,400 mark in as many months, but given its increasingly small downward corrections from there, a firm rally higher seems only a matter of time, Kuptsikevich says.
