Gold climbed on Monday, trading near a more than two-year peak reached in the previous session, as investors sought refuge in the safe-haven amid economic and political uncertainty after Britain voted to exit the European Union.
The continued volatility in financial markets continues to benefit gold. New York gold futures climbed another 0.5% to US$1329 an ounce.
It's not just a safe haven asset that is driving the gold price, but also physical demand.
China's imports of the yellow metal, through Hong Kong, soared nearly 70% in May to the highest level in six months.
Holdings in the SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 13.07 tonnes to 947.38 tonnes on Monday, the highest since July 2013.
Reference: Proactive Investors, The News
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