Gold price hits over seven-month peak

BENGALURU, Jan 29 (Reuters): Gold prices hit a more than seven-month high on Tuesday as investors shun riskier assets on worries over escalation in Sino-US trade tensions after the US Justice Department charged China's Huawei Technologies Co Ltd with fraud.

Spot gold rose to its highest since June 14, 2018 at $1,306.43 and was up 0.2 per cent at $1,306.11 per ounce by 0715 GMT. US gold futures were up 0.1 per cent at $1,304.70 per ounce.

"Investors are very cautious with many uncertainties on US-China trade talks and Brexit. Huawei is at the centre of dispute, creating very noisy background for the trade talks," said Margaret Yang, a market analyst at CMC Markets.