Gold Prices Slighly Higher

New York (Sept 13)  Gold prices are moving in a tight range Thursday morning amid reports that the US is in the early stages of proposing a new round of trade talks with China in the near future.

The US Treasury Secretary Steven Mnuchin has reportedly sent an invitation for talks to senior Chinese officials, proposing a meeting in the next few weeks.

A fairly steady dollar is restricting the yellow metal's upside.

Gold futures for December are up USD0.30, or 0.03%, at 1,211.20 an ounce. On Wednesday, gold futures gained USD8.70, or 0.7%, a they settled at USD1,210.90 an ounce, the best settlement price in two weeks.

Silver futures for December are down USD0.038, or 0.27% at USD14.255 an ounce, while Copper futures are gaining USD0.020, or 0.75%, at USD2.696 per pound.

The dollar index is currently up 0.06 points or 0.06%, at 94.88.

Meanwhile, the Bank of England's nine-member Monetary Policy Committee has unanimously voted to hold its main interest rate unchanged at 0.75%. In August, the central bank of England had increased rates from 0.5% to 0.75%, the highest level in almost a decade.

Traders now await the monetary policy statement from the European Central Bank.

AllianceNews