Gold holds near one-week high

BENGALURU, Apr 9 (Reuters): Gold edged up Tuesday to hold near its highest in more than a week, supported by a retreating dollar and by increased buying by central banks.

Spot gold was up 0.4 per cent at $1,301.64 per ounce, at 0958 GMT. It touched its highest since March 28 at $1,303.61 in the previous session. US gold futures were up 0.3 per cent at $1,305.8 an ounce.

"Seeing something of a correction in the US dollar, which has been helpful laterally. Gold seems to have found a floor," said Ross Norman, chief executive at Sharps Pixley.

Central banks had extended 2018's record levels of gold buying into this year, he said. "So every day there may be small and minor countries with modest amounts to buy, but collectively it tells you something."

The dollar index fell to its lowest in more than a week on Tuesday following subdued US data and gains in commodity-linked currencies driven by surging oil prices.