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Thursday April 25, 2024

Gold firm

By our correspondents
May 24, 2017

Reuters

Bengaluru

Gold prices were steady on Tuesday despite a blast at a concert in the English city of Manchester that left at least 19 people dead in what British police said was being treated as a terrorist incident.

The metal has been supported as the dollar weakened against the euro amid political tensions in the U.S. due to the ongoing controversies involving President Donald Trump.

Spot gold was up 0.1 percent at $1,261.62 per ounce by 0100 GMT. U.S. gold futures were flat at $1,261 an ounce.

At least 19 people were killed in a blast at a concert in the English city of Manchester on Monday where U.S. singer Ariana Grande had been performing and two U.S. officials said a suicide bomber was suspected in the explosion. Safe-haven demand for gold often increases at times of geopolitical uncertainty.