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Gold prices at two-week high on trade deal hopes; palladium peaks

Updated : February 18, 2019 01:53 PM IST

Spot gold had gained 0.1 percent to $1,322.41 per ounce as of 0747 GMT. The metal touched $1,325.30 earlier, just below a 9-month peak of $1,326.30 an ounce marked on January 31. US gold futures rose 0.3 percent to $1,326.1 an ounce.
The dollar was marginally weaker on Monday, as increasing expectations of a US-Sino trade deal led investors to shift away from the safety of the greenback, which had been the preferred safe-haven during the trade dispute.
Spot gold prices have risen about 3.3 percent so far this year on hopes that the world's two largest economies will hammer out a truce and on expectations the US Federal Reserve will pause its cycle of interest rate hikes.
Gold prices at two-week high on trade deal hopes; palladium peaks

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