PRECIOUS-Gold climbs towards 6-yr peak on dovish central banks, Iran tensions

* SPDR posts biggest one-day percentage gain since 2008
* Speculators increase net longs in COMEX gold
* Spot gold prices up nearly 8% so far this month

(Updates prices)
By Sethuraman N R
June 24 (Reuters) - Gold climbed on Monday towards the near
six-year high reached in the previous session, driven by dovish
signals from global central banks and increased tensions between
the United States and Iran.
Spot gold XAU= was up 0.5% at $1,405 an ounce by 1240 GMT,
heading for a fifth straight session of gains. Gold prices hit
$1,410.78 on Friday, their highest since Sept. 4, 2013.
U.S. gold futures GCv1 rose 0.7% to $1,410 an ounce.
"The weakness of the U.S. dollar, gold's technical picture
and interest from investors themselves have become
self-sustaining factors, especially after the massive inflows
into gold exchange-traded funds," Commerzbank analyst Eugen
Weinberg said.
Tensions between the United States and Iran also supported
gold, he added.
Holdings of the world's largest gold-backed ETF, SPDR Gold
Trust GLD , rose 4.6% on Friday from a day earlier, its biggest
one-day percentage gain since September 2008. GOL/ETF
The U.S. Federal Reserve and the European Central Bank last
week hinted that they were open to easing policy to counter a
global economic slowdown, exacerbated by global trade tensions.
Helping gold's appeal, the dollar .DXY fell to a
three-month low against a basket of currencies on bets the U.S.
central bank would start lowering interest rates as early as
next month. USD/
Meanwhile, U.S. President Donald Trump said on Sunday he was
not seeking war with Tehran, but tensions remain high between
the longtime foes, with Washington due to announce "significant"
sanctions on Iran on Monday. Gold prices have risen nearly 8% so far this month, and more
than $70 just over the past week.
Hedge funds and money managers boosted their bullish stance
in COMEX gold in the week to June 18 and speculators switched to
a net long in silver futures and options, the U.S. Commodity
Futures Trading Commission said on Friday. CFTC
Gold holding above the psychologically important $1,400
level is a positive signal for consolidation after last week's
rally, said Carlo Alberto De Casa, chief analyst at ActivTrades.
"The gold rally pushed silver up too, but the scenario in
this case is less strong, as prices keep bouncing on the
resistance area at $15.50," he said.
Silver XAG= edged 0.3% lower to $15.31 per ounce and
platinum XPT= was up 0.5% at $813.68.
Palladium XPD= rose 1.2% to $1,517.23 an ounce.
The market's focus now shifts to whether Washington and
Beijing can resolve their trade dispute at a summit in Japan
this week of leaders from the Group of 20 leading world
economies.