Gold prices edged up higher on Monday, as easing trade tensions between the United States and China put pressure on the US dollar.

 

Spot gold was up 0.1 percent to $1,185.31 an ounce at 0245 GMT. Last week, the price touched its lowest since January 2017 at $1,159.96.

 

In Saudi Arabia, gold was last retailing at SAR 4,808 an ounce.  

 

Price of the metal has tumbled over 14 percent from its April high as a rally in the greenback made dollar-priced bullion more expensive for buyers using other currencies.

 

The US dollar index, which measures the greenback against a basket of six currencies, was at 96.175 on Monday, after hitting its highest since June 2017 last week.

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