Golden Leagues in Vienna on December 15, 2017. Photograph by Leonard Fugger.
LONDON (Reuters) – Gold rose on Monday on fears of a slowdown in global economic growth and the haze surrounding US interest rates ahead of the G20 summit and focusing on trade tensions between China and U.S.
At 8:34 am EDT spot gold rose 0.3% to $ 1,226 an ounce. US gold futures rose 0.4 percent to $ 1,227.5 an ounce.
"People are shifting some liquidity to gold given the uncertainty about the pace of US interest rate increases and the US-China trade war," said Brian Lan, director of Gold Silver Central in Singapore.
US President Donald Trump and his Chinese counterpart Xi Jinping are expected to be on the sidelines of the G-20 summit in Argentina early next week.
Silver rose 1.2% in the trading session to $ 14.41 an ounce and platinum gained 0.7% to $ 842.65. The Palladium rose 1.3 percent to $ 1133.99 an ounce. Prices fell about 3% in the previous session, the biggest drop of a day since August 15.
Prepared by Ahmed Elhamy for publication in Arabic