Investing.com – Gold prices swung between small gains and losses on Monday despite heightened geopolitical risk as markets assessed the fallout from U.S.-led missile strikes on Syria on Friday.
for June delivery on the Comex division of the New York Mercantile Exchange edged up 60 cents or 0.04% to $1,348.50 a troy ounce by 04:40 AM ET (08:40 AM GMT).
Safe haven demand for gold was held in check by relief that the missile strikes on Syria did not prompt , Syria’s main ally, but markets remained watchful for any signs of escalation of the conflict.
, pointing to a higher open on Wall Street as the market mood brightened.
The military strikes were made in response to a suspected chemical-weapon attack on civilians in Damascus and were the largest intervention yet by Western countries against Syrian President Bashar al-Assad.
Investors tend to seek out gold as a store of value during times of market turmoil and political tensions.
Rising geopolitical tensions have pulled focus away from fears over a , which had gripped global financial markets in recent weeks.
The , which measures the greenback’s strength against a basket of six major currencies, was down 0.23% to 89.30. A weaker dollar makes the dollar-denominated metal less expensive for holders of other currencies.
In other precious metal trade, fell 0.35% to $16.60 a troy ounce, while dipped 0.08% to trade at $932.40.
Among base metals, were down 0.13% to $3.067 a pound.
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Source: Investing.com
