Gold Retreats As Safe Haven After Paris Attack

Gold was seen trading higher on Monday regaining the safe haven title. The spur was due to Paris Attack which boosted the gold sentiment.

Gold is considered as safe haven metal in the time of turmoil or political uncertainties.However, a stronger dollar curbed the demand for gold as an alternative asset, trimming gains in the bullion.

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International spot gold was seen trading at $1,095 an ounce.

Gold futures also rose tracking international market. Gold futures on MCX for December 2015 contract, was trading at Rs 25,565 per 10 grams, up by 0.76 per cent at 2.20 pm IST. It touched an intra-day high of Rs 25,710.

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