2020.01.2009:25:00UTC+00Gold Rises After Missile Attack In Yemen

Gold prices were flat to slightly higher on Monday amid geopolitical tensions after more than 100 people were killed and dozens wounded in a missile and drone attack blamed on Houthi militia in central Yemen. Buying ahead of the Chinese New Year also lent some support.

Spot gold edged up 0.3 percent to $1,560.58 per ounce, after hitting its highest level since Jan. 10 at $1,562.51 earlier in the session. U.S. gold futures were virtually unchanged at $1,560.55.

The missile attack reportedly targeted a mosque located inside a military training camp during evening prayers on Saturday.

Yemen's internationally recognized government condemned the strike as a "cowardly and terrorist" attack, according to the official Saba news agency.

Yemeni President Abdu Rabbu Mansour Hadi told the military to be on high alert and ready for battle. He blamed the Iran-backed Houthi rebels for the deadly attack.

The dollar held largely flat in European trade amid a holiday in the U.S.