Spot gold on Kitco.com was up 0.15% in thin Asian trade, reaching $1,229.70 an ounce at the time of publication. June Comex gold was last up 0.16% at $1,229.70.
• Increased geopolitical tensions as well as disappointing U.S. macro data have boosted the demand for gold, according to analysts.
• "You continue to see the political uncertainty continue to support gold," said ETF Securities analyst Martin Arnold, citing the dismissal of the Federal Bureau of Investigation's (FBI) James Comey and the upcoming British election as sources of uncertainty.
• This week, investors are keeping a close eye on the U.S. housing starts and building permits data for April as well as some regional manufacturing data.
Reference: Business News, Kitco
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