Gold climbed on Monday towards the near six-year high reached in the previous session, driven by dovish signals from global central banks and increased tensions between the United States and Iran.
Spot gold was up 0.5 per cent at $1,405 an ounce by 1240 GMT, heading for a fifth straight session of gains. Gold prices hit $1,410.78 on Friday, their highest since September 4, 2013. US gold futures rose 0.7 per cent to $1,410 an ounce.
Holdings of the world’s largest gold-backed ETF, SPDR Gold Trust, rose 4.6 per cent on Friday from a day earlier, its biggest one-day percentage gain since September 2008.
Gold prices have risen nearly eight per cent so far this month, and more than $70 just over the past week.
Silver edged 0.3 per cent lower to $15.31 per ounce and platinum was up 0.5 per cent at $813.68. Palladium rose 1.2 per cent to $1,517.23 an ounce.