2019.02.1806:11:00UTC+00Gold Hovers Near Two-week High

Gold prices hovered near their highest level in more than two weeks on Monday and the dollar weakened as investors bet more progress would be made in U.S.-China trade talks.

Spot gold rose 0.2 percent to $1,324.31 per ounce, just below a 9-month high of $1,326.30 an ounce marked on January 31. U.S. gold futures were little changed at $1,327.45 an ounce.

After five days of negotiations in Beijing, a statement from the White House noted that high level U.S.-China trade talks last week led to "progress between the two parties", but "much work remains."

The talks will continue in Washington this week as both sides race to reach a deal by the March 1 deadline.

Investors also watched the latest Brexit developments and pondered over the political fall-out from U.S. President Trump's decision to declare national emergency in a bid to fund his promised wall at the U.S.-Mexico border.