Gold prices rose on Thursday, as the dollar eased from 6-1/2-month highs hit earlier this week, with prices further supported by concerns over US-China trade.Spot gold rose 0.4 percent to $1,305.87 per ounce by 0652 GMT, but was down 0.7 percent for the month, in what could be its second straight monthly decline.
US gold futures for June delivery were 0.3 percent higher at $1,305.80 per ounce.
"Gold is largely being influenced by how the dollar is moving and the dollar move overnight is a clear representation of why gold prices have risen this morning," said OCBC analyst Barnabas Gan.
"Prices are still very dependent on how risk aversion is playing up and the global news surrounding the US-Sino trade tensions as well as the possibility of a North Korea summit, that uncertainty is a big driver for gold prices," Gan added.
"An inherent weakness in the greenback, heightened risks in the global financial system and geopolitical uncertainty will cement safe-haven demand for the longer term," Benjamin Lu, a commodities analyst at Singapore-based broker Phillip Futures, said in a note.
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