Gold prices ticked upward on Monday, helped by a pullback in U.S. Treasury yields, as markets awaited U.S. President Donald Trump’s meeting with Ukrainian President Volodymyr Zelensky and key European leaders later in the day.
As of 08:40 GMT, spot gold was up 0.4% at $3,348.28 per ounce, after briefly touching its lowest level since August 1. Meanwhile, U.S. gold futures for December delivery gained 0.3% to $3,393.40.
“The steady tone in gold is back, with the metal hovering near the $3,350 mark. Softer yields and a weaker dollar are combining to provide strong support,” said market analyst Ross Norman.
Benchmark 10-year U.S. Treasury yields slipped from recent two-week highs, adding to gold’s safe-haven appeal.
On the geopolitical front, European leaders are preparing to join Zelensky for talks with Trump, focusing on possible frameworks for ending the ongoing Russia–Ukraine conflict.
Investors are also keeping a close watch on the U.S. Federal Reserve’s upcoming symposium in Jackson Hole, Wyoming, which may offer fresh clues on the central bank’s interest rate outlook.
Gold, often seen as a shield during times of political and economic uncertainty, generally benefits in a low-rate environment.
Among other precious metals, silver edged up 0.2% to $38.08 per ounce, platinum was flat at $1,335.06, and palladium rose 0.6% to $1,118.92.
