Stock Market News

Gold hits six-year peak on softer dollar, US-Iran friction.

Gold prices climbed more than 1 per cent on Tuesday to their highest in six years as the dollar weakened on prospects of monetary easing by the Federal Reserve, while simmering US-Iran tensions drove investors towards the safe-haven bullion.

Spot gold was up 1.2 per cent at $1,435.45 per ounce, as of 0438 GMT. Earlier in the session, the yellow metal touched $1,438.63, its highest since May 14, 2013.

The bullion is headed for a sixth consecutive session of gains.

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