Gold jumped 1 percent on Monday, moving away from a near-six-year low, as investors sought safety in the metal following Friday's deadly attacks in Paris. Spot gold rose 1.2 percent to $1,095.77 an ounce by 0645 GMT, after earlier hitting a session high of $1,097.01. US gold futures rose more than 1 percent to a session high of $1,097.
In the first 10 minutes of trade, just under 3,000 lots changed hands, almost 10 times the 300-lot average for the opening 10 minutes over the past two months, according to Reuters calculations. Multiple attacks in Paris on Friday killed more than 130 people, prompting France to launch air strikes in Syria against Islamic State, which claimed responsibility for the attacks.
"Safe-haven buying following the terrible events in Paris over the weekend has taken gold higher this morning," said MKS Group trader Sam Laughlin. Global uncertainty should help gold trade higher this week with targets extending to $1,095 and $1,100, he said. Gold is typically seen as a safe-haven asset during times of uncertainty. Persistent weakness in stocks could further boost bullion. Tracking gold, silver, platinum and palladium all gained over 1 percent each.
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