Gold Edges Up From 9-˝ -Month Low as Dollar Eases

Gold climbed after slipping to a 9-˝ month low during the previous session, as the U.S. dollar retreated after reaching near 14-year highs last week. Spot gold climbed 0.55 percent at $1,189.43 per ounce.

U.S. gold futures was up 0.9 percent to $1,189.0 an ounce. Oil prices slipped on concerns that producer countries might not come up with a final agreement to reduce output, pressuring U.S. stock futures and Asian shares. Gold premiums in China rose to the highest in almost three years in the week to Nov. 25 on uncertainty regarding a supply shortage that traders claim were because of Beijing's attempt to restrict import licenses.

SPDR Gold Trust said that its holdings declined 0.73 percent to 885.04 tonnes on Friday.

News are provided by InstaForex