Gold prices waver after hitting seven-week high

Gold prices wavered today after setting a seven-week high, as trading volumes grew thin due to the U.S. holiday, which forced the precious metal to dither.
 
Gold last traded at $1,203.2 an ounce, compared to the opening of $1,203.1, with an intraday low at $1,200.1, and a seven-week high at $1,208.5.
 
Gold's current wavering comes after hitting a seven-week high, triggering profit-taking, specially as U.S. trading is closed , causing thin volumes.
 
The dollar on the other hand recovered from a five-week low against main currencies hit last week, which forced gold to stop rising and waver.
 
Higher haven demand on gold in European trade underpins prices as concerns mount over Britain's potentially unsafe exit from the European Union.