January 20, 2014

Gold steadied on Monday, after touching its highest level in nearly six weeks, as it found support from a lower dollar and a dip in equities, which improved investor confidence in the metal.

Platinum prices rose to their highest level in more than two months after the main trade union for South African platinum miners said workers at the world’s top three producers would go out on strike this week.

Spot gold was up 0.2 percent at $1,255.90 an ounce by 1259 GMT after hitting its highest level since mid-December at $1,259.46 earlier in the day. U.S. gold futures for February delivery were up $3.90 at $1,255.90 an ounce.

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