(RTTNews) - The price of gold was edging up Monday morning as the U.S. dollar was pausing for a breather after recent rally.
Gold for February delivery, the most actively traded contract, edged up $3.70 to $1,620.50 an ounce. Last week, gold gained over 3 percent as concerns over the euro zone debt crisis and the Middle East offset a stronger dollar.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,254.57 tons.
This morning the U.S. dollar was leveling off from its 16-month high versus the euro and ticking lower against sterling. The buck was paring recent gains versus the Swiss franc and moving lower against the yen.
In economic news from the euro zone, Germany's trade surplus increased in November, the Federal Statistical Office said. Exports grew 2.5 percent month-on-month in November, partially offsetting the 2.9 percent decrease seen in October. Meanwhile, imports dropped 0.4 percent, following a 0.1 percent rise in the previous month. Economists were expecting 0.5 percent monthly growth for both exports and imports.
Elsewhere, the price of silver was ticking higher, while platinum was little changed in morning deals.
