Gold Price Continued To Rise on Iranian-British Scandal

Gold extended gains on Monday as tensions between Iran and Britain spurred safe-haven buying, but traders said the failure to breach a key resistance level may disappoint some investors.

In the physical sector there was some profit-taking from Indonesia, which is Southeast Asia's largest consumer, but light buying also emerged from Thailand and India.

Spot gold edged up to $664.30/664.80 an ounce from $663.70/664.70 late in New York on Friday, when it hit an intraday high above $667 an ounce due to the Middle East tensions and a drop in the dollar.