Gold prices hit a three-month high
Gold prices have hit a three-month high of $1,239 per ounce amid fresh demand for the safe haven asset.
The yellow metal is now up 0.13 per cent at $1,237.70 per ounce, while spot gold is up 0.19 per cent at $1,236.17.
Political uncertainty is helping offset downward pressure of a stronger US dollar, according to Mike van Dulken and Henry Croft, analysts at Accendo Markets.
"Any weakness in the latter could spur the precious metal to fresh three-month highs, keeping the bullish flag pattern alive," they said before the metal's rise.
Yesterday, BullionVault said gold investing demand had its strongest January since 2012 as financial and political risks "become reality".
"Gold investing demand has risen with prices as Trump takes office, the UK moves to trigger Article 50, and European politicians start campaigning ahead of this year's key elections," said Adrian Ash, head of research at BullionVault.
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