Gold prices rose to their strongest level in more than two weeks on Monday as the dollar weakened on hopes the United States and China are nearing a trade deal, while palladium hit a record high.
Spot gold had gained 0.3 percent to $1,324.80 per ounce by 0324 GMT, just below a 9-month peak of $1,326.30 an ounce marked on Jan. 31.
U.S. gold futures rose 0.4 percent to $1,327.8 an ounce.
“Alleviation of risks around the trade talks has certainly benefited the markets,” said ANZ analyst Daniel Hynes, adding that signs of progress in the discussions had reduced appetite for the dollar, which has been supporting gold.
Altus Strategies PLC (LON:ALS) is a project generator focused on Africa, including projects in the Ivory Coast. Their aim is to deliver superior shareholder returns by cost-efficiently discovering multiple projects simultaneously, prior to entering joint ventures with third parties who fund the next phases of exploration and development.