Gold on Wednesday held near three-month highs hit the session before, buoyed as political and economic uncertainty in the United States and Europe stoked safe-haven demand. Spot gold was largely flat at $1,233.06 per ounce by 0616 GMT. On Tuesday, the metal touched its highest since Nov. 11 at $1,235.78. US gold futures were little changed at $1,236.30 an ounce.
"The biggest momentum behind gold is the fact that the US Federal Reserve did not raise rates in the recent meeting, some uncertainties brought by US President Donald Trump's policies and a weaker dollar," said Jiang Shu, chief analyst at Shandong Gold Group.
"Gold prices will continue to rise until mid-February on uncertainties in the US and Europe. But, once January CPI data is released, it will give an idea about the possibility of a rate hike in March," Shu added.
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