Gold prices lingered near the one-month low registered in the previous session on Friday, as the U.S. dollar strengthened and hopes of an immediate U.S. coronavirus aid package waned.
Spot gold was flat at $1,867.30 per ounce and was on track to post its worst week in over a month.
U.S. gold futures were down 0.1% at $1,866.20.
President Donald Trump’s chief economic adviser said on Thursday that any deal on coronavirus relief legislation would have to wait for now.
The U.S. economy grew at a historic pace in the third quarter as the government injected more than $3 trillion worth of pandemic relief which fueled consumer spending, but the effects of the Covid-19 recession is likely to linger for longer.
A World Gold Council spokesperson said the discount of Chinese gold to international prices is expected to narrow in the fourth quarter as a recovery in the investment and wedding sectors boosts demand.
Silver rose 0.3% to $23.35 U.S. per ounce. Platinum was up 0.3% at $850.30 U.S. and palladium gained 0.4% at $2,199.64 U.S.
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