Gold prices rose to their strongest level in more than two weeks on Monday as the dollar weakened on hopes the United States and China are nearing a trade deal, while palladium hit a record high.
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 Jan. 31. US gold futures rose 0.3 percent to $1,326.1 an ounce. “Alleviation of risks around the trade talks has certainly benefited the markets,” said ANZ analyst Daniel Hynes, adding that signs of progress in the discussions had reduced appetite for the dollar.