Copper edged lower on Wednesday as investors took some money off the table over worries about a dip in demand from top consumer China while a firmer dollar also sapped the metal's appeal.
China factory growth picks up in May - survey Silver hits two-week high Spot gold may rise into $1,932-$1,953/oz range- technicals (Updates prices)
June 1 (Reuters) - Gold prices scaled a near five-month high on Tuesday, driven by a weaker dollar and growing inflationary pressures, while investors awaited more U.S. data to gauge the extent of the global economic recovery.
Spot gold was up 0.4% at $1,915.01 per ounce by 0636 GMT, its highest since Jan.8.
U.S. gold futures rose 0.6% to $1,917.20.
“Gold prices are riding a very strong upward trend . this is against the backdrop of a falling U.S. dollar and also inflation concerns,” said Margaret Yang, a strategist at DailyFX.
The B1617 strain is becoming increasingly dominant worldwide and this will not be the last time that the virus mutates, the Strait Times reported on Sunday.