Gold approaches Friday’s highs

Gold advanced during the New York session and approached Friday’s highs as risk sentiment deteriorated, favoring safe-haven demand.

The yellow metal reached a daily peak of $1,354 an ounce. Spot was last trading at $1,352, up 0.29% on the day.

On Friday, gold reached its highest level in almost three weeks at $1,355 after data showed the US economy grew much slower than expected in the second quarter, weighing on the greenback as investors roll back their expectations of another rate hike by the Fed this year.