Gold prices were little changed on Monday as investors monitored developments in US trade talks and awaited potential market-moving catalysts, including the US Federal Reserve’s policy meeting scheduled for next week.
Spot gold held its ground at $3,352.19 per ounce, as of 0250 GMT. US gold futures were steady at $3,358.70.
“Dollar has made a subdued start to the week, which has left the door open for gold to post gains early doors with tariff deadlines looming large,” KCM Trade Chief Market Analyst Tim Waterer said.
“The closer we move towards the key August 1 deadline without any new trade deals emerging, the more likely gold is to start fancying another run to towards the $3,400 level and perhaps beyond.”
Investors are eyeing developments in trade negotiations ahead of US President Donald Trump’s August 1 deadline, as US Commerce Secretary Howard Lutnick remains optimistic about reaching a deal with the European Union.
Trump might visit China before going to the Asia-Pacific Economic Cooperation summit between October 30 and November 1, or he could meet Chinese leader Xi Jinping on the sidelines of the APEC event in South Korea, reports said.
