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Bengaluru. — Gold prices edged lower yesterday as Asian stocks gained, although political concern about US President Donald Trump is expected to keep supporting appetite for the metal as a so-called safe-haven asset. Trump was hit on Friday by embarrassing leaks that a senior adviser was a “person of interest” in a probe of possible collusion with Russia during last year’s election campaign and that Trump had boasted to Russian officials of firing the man heading the investigation.

Secretary of State Rex Tillerson and National Security Adviser Gen HR McMaster defended Trump, saying the president had raised the firing of the FBI director James Comey in a meeting with Russia’s foreign minister to explain why he had been unable to find areas of co-operation with Moscow.

Spot gold was down 0,2 percent at $1 252,46 an ounce by 4.04am GMT. It rose about 0,7 percent on Friday. US gold futures were up 0,1 percent at $1 252,60 per ounce.

“Some of that (weekend) risk hedging has been unwound in early Asia trading, with gold completely ignoring North Korea’s latest missile test,” Oanda senior market analyst Jeffrey Halley said.

“(But) the geopolitical heat is definitely rising again slowly, and this should ensure that gold remains bids on any material dips in the early part of this week.” — Reuters.