Gold up

Bengaluru

Gold edged up in early Asian trade on Monday as jitters over the resignation of Italian Prime Minister Matteo Renzi after losing a referendum on constitutional reform induced safe-haven buying.

Spot gold was up 0.3 percent at $1,180.20 an ounce by 0050 GMT.  U.S. gold futures gained 0.4 percent to $1,182.40 per ounce.

The euro sank to 20-months lows in Asia on Monday after Italian Prime Minister Matteo Renzi said he would resign in the wake of a stinging defeat on constitutional reform that could destabilise the country´s shaky banking system. The U.S. unemployment rate fell to a nine-year low of 4.6 percent in November, as employers added another 178,000 jobs, making it almost certain that the Federal Reserve will raise interest rates later this month.

Deutsche Bank AG has agreed to pay $60 million to settle private U.S. antitrust litigation by traders and other investors who accused the German bank of conspiring to manipulate gold prices at their expense.