LONDON: Gold prices were steady on Monday, holding in a narrow range, as traders awaited more clarity on Brexit and US-China trade ties.

Spot gold was up 0.2 per cent at $1,492.04 per ounce as of 1122 GMT. US gold futures rose 0.1pc at 1,495.50.

Market participants are also awaiting further developments in the US-China trade talks and the US Federal Reserve meeting at the end of the month for further cues on monetary policy easing.

“Investors, after switching to gold (in) some of their portfolio in the last few months, are now waiting for new market movers, potentially from developments in the trade war and from the monetary policy that will be put in place by the Fed and the ECB,” ActivTrades chief analyst Carlo Alberto De Casa said in a note.

Elsewhere, silver rose 1pc to $17.72 per ounce, and platinum was up 0.6pc to $894.45. Meanwhile, palladium gained 0.6pc to $1,764.91 an ounce, having hit an all-time high of $1,783.21 on Thursday.

Published in Dawn, October 22nd, 2019