Gold was steady after China said it will raise penalties on violations of intellectual property rights in an attempt to address one of the sticking points in trade talks with the U.S.
China will also look into lowering the thresholds for criminal punishments for those who steal IP, according to guidelines issued by the government on Sunday. It didn't elaborate on what such moves might entail. The U.S. wants China to commit to cracking down on IP theft and stop forcing U.S. companies to hand over their commercial secrets as a condition of doing business there.
Spot gold -0.1% at $1,460.86/oz at 9:36am in Singapore, -0.4% last week. Spot silver -0.4% to $16.95/oz after posting second weekly gain. Platinum trades little changed after falling as much as 3.2% on Friday. Metal remains below psychologically important level of $900/oz.
Source : Bloomberg