Gold prices rose 0.3% on Monday, reaching $3,317.97 per ounce, as a softer U.S. dollar and investor caution ahead of high-stakes U.S.-China trade talks in London supported demand. The meeting has heightened market sensitivity to geopolitical developments, prompting some investors to favor safe-haven assets.
The metal’s gains also reflect broader concerns about global growth, rising debt levels in several economies, and persistent trade tensions—factors that typically boost interest in gold as a hedge against economic uncertainty. Market participants are watching central bank signals and economic data for clues on the pace of growth and inflation, which could influence gold’s near-term outlook.
Platinum advanced sharply, climbing 2.7% to $1,200.95 per ounce and reaching a four-year high. This marked the sixth consecutive day of gains for the metal, driven by tight supply conditions and strengthening industrial demand, particularly from the automotive and clean-energy sectors. Analysts note that constrained mine output and rising consumption for catalytic converters and hydrogen-related applications have tightened the market balance for platinum.