Gold rises ahead of US-Europe talks on Ukraine

Gold bars

Gold futures rose as investors awaited a meeting between US President Donald Trump, Ukrainian President Volodymyr Zelensky, and European leaders on Monday to discuss a potential peace deal with Russia.

December gold futures increased 0.5%, or $16.4, to $3,399 an ounce during trading, while spot gold rose 0.4%, or $13.51, to $3,349.7 an ounce at 08:32 a.m. Mecca time.

The dollar index, which measures the US currency against a basket of six major currencies, held steady at 97.85.

Silver futures for September delivery climbed about 0.6% to $38.2 an ounce. Spot platinum edged down 0.1% to $1,340.5, while spot palladium rose 0.25% to $1,118.39 an ounce.

Markets are also awaiting the release of the minutes from the Federal Reserve’s July meeting, which kept interest rates unchanged, ahead of the three-day Jackson Hole Economic Symposium ending next Saturday.