Gold prices rise as investors await developments in trade talks

Gold prices rose on Monday, as traders awaited further developments related to US trade talks and the European Central Bank’s upcoming monetary policy decision this week.

Spot gold rose 0.4% to $3,364.81 per ounce, while US gold futures rose 0.3% to $3,369.40 per ounce.

Investors are closely monitoring the progress of trade negotiations ahead of the August 1 deadline set by US President Donald Trump, amid continued optimism from US Commerce Secretary Howard Lutnick that a deal with the European Union can be reached.

The European Central Bank is expected to keep interest rates unchanged at 2.0% at its upcoming meeting this week, following a series of consecutive cuts.