Gold prices rose for a third straight session on Tuesday as the dollar languished near a five-week low, as investors eyed rising tensions between Russia and the West even as a US-China trade spat appeared to ease. Spot gold was up 0.16 percent at $1,355.19 per ounce at 0739 GMT, after touching $1,356.66 earlier in the session, its highest since February 16.
US gold futures for April delivery were flat at $1,355 per ounce. "Gold prices continue to ratchet higher as the US dollar weakens despite equity markets rebounding on easing concerns about the likelihood of a trade war between China and USA," Stephen Innes, APAC trading head at OANDA, said in a note. "Realistically there are plentitudes of market turmoil in the making that continue to make gold the go-to place to hedge risk." Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, fell 0.38 percent to 847.30 tonnes on Monday from 850.54 tonnes on Friday.
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