Gold Prices Rise As Dollar Hits 3-1/2-Week Low

Gold prices rose on Monday as investors covered their short positions and the dollar slipped to its weakest since mid-June, while lingering U.S.-Sino trade tensions supported the bullion as well.

Spot gold was 0.4 percent higher at $1,258.61 an ounce, as of 0351 GMT, while U.S. gold futures for August delivery were up 0.3 percent at $1,259.90 an ounce.

Gold is pushing higher on the dollar's weakness in early Asian trading, MKS PAMP Group trader Tim Brown wrote in a note.

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