Gold prices waver on thin trading due to U.S. bank holiday

Gold prices wavered on Monday due to thin trading volumes amid the U.S. bank holiday, which made the precious metal hover near a 3-1/2 month high.
 
Gold last traded at $1,237.7 an ounce, compared to the opening of $1,236.0, with a session-high at $1,238.8, and a low at $1,232.5.
 
Gold managed to hold on to its recent gains as the dollar wavers against a basket of currencies due to tensions in the markets about the new U.S. administration's policies, which raised demand on gold as a safe haven.
 
On the other hand, higher demand on gold prices came as global stocks fall on profit-taking after hitting record highs last week, increasing demand on gold as a safe haven.
 
The dollar index, tracking the greenback against a basket of currencies, inched up to 100.84 from the opening of 100.82, with an intraday low at 100.73, and a high at 100.98.