Gold prices edged higher on Monday, rising towards their best level since April as the U.S. dollar weakened on hopes the U.S. and China would hammer out an agreement resolving their protracted trade war.
Comex gold futures were up $2.25, or around 0.2%, at $1,329.95 a troy ounce by 8:40AM ET (13:40 GMT), not far from a 10-month high of $1,331.10.
Meanwhile, spot gold was trading at $1,326.91 per ounce, up $5.50, or roughly 0.4%.
There will be no floor trading on the Comex on Monday because...
Gold holds near its highest close since April as the dollar retreated and investors weighed broad optimism that the U.S. and China may be able to reach a deal that would avert a tariff increase on Chinese goods by March 1. Palladium hit a record.
Spot gold gained as much as 0.2% to $1,325.39/oz early Monday, highest since Jan. 31, and traded at $1,324.85 at 9:42am in London
Other precious metals: Silver +0.2%. Platinum -0.1%. Palladium as much as +1.6% to...
Gold prices stood firm at two-week highs on Monday as the dollar inched lower, while equities rose on increased expectations of a U.S.-China trade deal, capping bullion's gains.
Spot gold inched 0.1 percent higher to $1,321.69 per ounce at 0037 GMT. The metal hit a near 9-month high of $1,326.3 an ounce on Jan. 31
U.S. gold futures rose 0.2 percent to $1,324.9 an ounce.
Source : Reuters
The dollar was marginally weaker on Monday, as increasing expectations of a U.S.-Sino trade deal led investors to shift away from the safety of the greenback into riskier assets.
The dollar index, a gauge of its value versus six major peers was marginally lower at 96.85. The index has gained 1.4 percent so far this month despite weaker-than-expected U.S. data as well as a cautious Federal Reserve which is widely expected to keep rates steady this year due to a slowdown in growth and muted...
Wall Street and Main Street remain bullish in the weekly Kitco News gold survey.
A number of analysts and traders cited an expectation that the U.S. dollar™s recent rally will stall, which would help gold due to the inverse relationship between the two. Others cited technical-chart strength in gold.
Seventeen market professionals took part in the Wall Street survey. There were 13 votes, or 76%, calling for higher prices. There were two votes each, or 12%, for both lower and...