Gold Rises Amid Anticipation of U.S. Trade Talks

Gold prices climbed on Monday, bolstered by a weakening dollar as traders anticipated further developments in U.S. trade talks and key market events such as the upcoming Federal Reserve meeting next week.

By 0654 GMT, spot gold increased by 0.6 percent to $3369.02 per ounce. Meanwhile, U.S. gold futures rose 0.5 percent to $3376.40 per ounce.

Investors are closely monitoring trade negotiation developments ahead of the August 1 deadline set by President Donald Trump, with U.S. Commerce Secretary Howard Lutnick remaining optimistic about reaching an agreement with the European Union.

In the precious metals market, silver rose in spot dealings by 0.4 percent to $38.33 per ounce. Platinum gained 1.1 percent to $1437.53, and palladium increased 1.3 percent to $1256.98.