Gold dips as dollar holds onto gains; US-China spat in focus

Dubai - Spot gold was down 0.3 per cent at $2,029.19 per ounce by 0701 GMT.

Gold prices fell on Monday as the dollar held onto gains made after better-than-expected US payrolls data, while investors kept a close eye on Sino-US relations ahead of scheduled trade talks.
Spot gold was down 0.3 per cent at $2,029.19 per ounce by 0701 GMT. US gold futures rose 0.6 per cent to $2,039.60. Japanese and Singapore markets were closed for public holidays.
Gold prices in Dubai for 24K touched Dh246.00 per gramme; 22K was at Dh231.00 per gramme; 21K at 220.50 per gram me and 18K at Dh189.00 per gramme.
Gold hit a record high of $2,072.50 on Friday before retreating nearly 2 per cent as the dollar bounced on data showing US nonfarm payrolls increased by 1.763 million jobs in July.
Silver gained 0.2 per cent to $28.33 per ounce, platinum rose 1 per cent to $970.86 and palladium was steady at $2,177.08.
- Reuters, business@khaleejtimes.com