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KEFI Minerals Plc

Gold gains in pre-holiday trade

Gold prices rose to more than a one-week peak on Monday in low-volume trading ahead of the Christmas and New Year holidays, as the dollar eased slightly and uncertainties over the Sino-U.S. interim trade deal lingered.

Spot gold rose 0.3% to $1,482.61 per ounce by 0800 GMT. Prices had earlier risen to their highest since Dec. 12. U.S. gold futures rose 0.4% to $1,486.10 per ounce.

“There are some cosmetic improvements (in trade), but there is no comprehensive deal. Secondly, everyone knows that the Federal Reserve is not going to raise interest rates any time soon, that makes gold really affordable,” said John Sharma, an economist at National Australia Bank.

Gold, considered a safe investment in times of political and economic uncertainty, is set to register its best year since 2010.

KEFI Minerals plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.