By Georgi Kantchev
LONDON--Gold prices kicked off the week higher in London as the precious metal continued to recover from its multi-month lows reached last month.
Spot gold was up 0.3% at $1,176.20 a troy ounce. Other precious metals also rose.
Investors are regaining a taste for the metal, which is traditionally seen as a haven asset, amid uncertainties linked to Chinese economic growth and the start of Donald Trump's presidency in the U.S.
Following a losing streak that lasted roughly seven weeks at the end of last year, gold exchange-traded funds have started seeing inflows last week, according to Commerzbank analysts.
"I largely expect gold prices to be mainly consolidating this week as we await Donald Trump's presidential inauguration after which we can get a better picture of the policies that he is going to undertake for his term in office," said Jonathan Chan, investment analyst at Phillip Futures.
Gold's march upward came despite a rising dollar, which usually saps demand for dollar-priced commodities like gold. The Wall Street Journal Dollar Index, which tracks the greenback against a basket of other currencies, rose 0.2% on Monday.
Among other precious metals, silver was down 0.1% at $16.48 an ounce, platinum gained 0.7% to $971.90 an ounce, and palladium rose 0.2% to $760.00 an ounce.
Write to Georgi Kantchev at email@example.com
(END) Dow Jones Newswires
January 09, 2017 06:14 ET (11:14 GMT)
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