Gold steady on weak dollar; trade optimism lifts risk mood

Tuesday, 5 November 2019 00:00 - - {{hitsCtrl.values.hits}}

Reuters: Gold prices were steady on Monday as the dollar eased on soft manufacturing survey, while signs of a US-China trade deal stoked risk appetite, capping gains for the safe-haven bullion.

Spot gold was steady at $1,513.19 per ounce, as of 0747 GMT, after dipping 0.2% earlier in the session, while U.S. gold futures were up 0.3% at $1,515.30 per ounce.

Spot gold may test a resistance at $1,519 per ounce, a break above which could lead to a gain to $1,534.

“As long as gold holds the $1,500 level, markets will be positive,” Hareesh added.

Among other metals, silver rose 0.4% to $18.16 per ounce, platinum was up 0.9% at $954.93 per ounce, while palladium advanced 0.8% to $1,819.13.