Gold prices rose on Monday as bargain hunters came into the market ahead of planned trade talks between the United States and China.
Spot gold was up 0.15 percent at $1,186.40 an ounce after hitting a 19-month low last week, pressured by dollar strength amid geopolitical tensions and expectations of faster interest rate hikes. U.S. gold futures were up 0.81 percent at $1,193.80 an ounce.
China and the United States will hold lower-level trade talks this week, just before new U.S. tariffs on $16 billion of Chinese goods take effect.
Traders also looked ahead to the release of the FOMC meeting minutes this week and a meeting of central bankers at the Kansas City Fed’s Jackson Hole symposium for clues on next month’s U.S. interest rate hike.