Gold Scales 8-Month Peak On Fed Rate Pause Hopes, Trade Woes

Gold prices edged up on January 30 to hit their highest since May 2018, supported by uncertainty over US-China trade relations and expectations the Federal Reserve will keep rates on hold.

Spot gold was up 0.2 percent at $1,313.92 per ounce, as of 0503 GMT, after touching $1,314.62, its highest since May 15, 2018 earlier in the session. US gold futures rose 0.3 percent to $1,312.9 per ounce.

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