Gold Price Hovers Near Two-week High

London (Feb 18)  Gold prices hovered near their highest level in more than two weeks on Monday and the dollar weakened as investors bet more progress would be made in US-China trade talks.

Spot gold rose 0.2% to USD1,324.31 per ounce, just below a 9-month high of USD1,326.30 an ounce marked on January 31. US gold futures were little changed at USD1,327.45 an ounce.

After five days of negotiations in Beijing, a statement from the White House noted that high level US-China trade talks last week led to "progress between the two parties", but "much work remains."

The talks will continue in Washington this week as both sides race to reach a deal by the March 1 deadline.

Investors also watched the latest Brexit developments and pondered over the political fall-out from US President Trump's decision to declare national emergency in a bid to fund his promised wall at the US-Mexico border.

AllianceNews