File photo
London: Gold prices rose over 1 percent on Monday amid expectations of US interest rate cut and safe-haven demand, while investors awaited upcoming trade talks between Washington and Beijing.
Spot gold climbed 1.6 percent to $4,318.50 per ounce.
US gold futures for December delivery also gained 2.8 percent, reaching $4,333.10 per ounce.
Gold had hit a record high of $4,378.69 last Friday but closed down 1.8 percent, marking its largest drop since mid-May, after US President Donald Trump's remarks eased some concerns over trade tensions with China.
Other precious metals also advanced, with platinum rising 1.3 percent to $1,630.24 per ounce, and palladium up 0.4 percent at $1,479.51 per ounce.
