Gold prices climbed on Tuesday to their highest point in more than a month, supported by a weaker US dollar and lower Treasury yields, as investors looked for progress in trade talks ahead of an August 1 deadline.
Spot gold was unchanged at $3,390.69 per ounce, as of 0258 GMT. Earlier in the session, bullion hit its highest level since June 17.
US gold futures held their ground at $3,405.20.
“Gold’s move on the upside has been pretty much supported by positive technicals and as well as reinforced by a broad base of dollar weakness,” OANDA senior market analyst Kelvin Wong said.
The US dollar index was hovering near a more than one-week low against its rivals, making greenback-priced gold less expensive for other currency holders.
Benchmark 10-year US Treasury yields hit a more than one-week low on Monday.
The European Union is exploring a broader set of possible counter measures against the United States as prospects for an acceptable trade agreement with Washington fade, according to EU diplomats.
