Gold prices settled modestly lower on Monday, weighed down by strength in U.S. bond yields but with losses capped by weakness in the dollar, as investors assessed a phase one trade deal between the U.S. and China.
For now, gold is “trading on dollar moves and will likely see a slight pause in following every trade headline,” he said in a market update. “While, we could see safe-haven demand return if markets are disappointed with the details of last week’s trade deal, gold could continue to grind higher if the dollar pushes lower.”
Gold for February delivery on Comex fell by 70 cents, or 0.05%, to settle at $1,480.50 an ounce after trading between a low of $1,477.40 and a high of $1,484.50. March silver added 10. cents, or 0.6%, at $17.113 an ounce.
Source : MarketWatch