Gold price hits 10-month high amid hopes for successful outcome of US-China talks

London (Feb 21)  Prices for gold reached their highest level since April 2018 lifted by investor optimism over trade talks between Beijing and Washington and expectations of a possible rate hike later in the year.

Gold for April delivery on Comex rose 0.2 percent to $1,347.1 per ounce after touching a high of $1,349.80. The contract increased by 1.7 percent to mark the highest close since April 19.

March silver futures rose 1.3 percent to trade at $16.177 an ounce, following a 1.4 percent rise earlier this week. The metal was up 15 percent since summer. Palladium briefly jumped above the $1,500 per ounce mark for the first time ever. The best performer among precious metals, palladium, is up nearly 17 percent on the year and up 80 percent since its August lows.

RTnews