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• Gold rose to its highest in over a week early Monday, extending gains from the previous session, after U.S. Federal Reserve Chair Janet Yellen skipped any mention of monetary policy in a speech at a central bankers meeting in the United States.

• Spot gold rose 0.2 percent to $1,293.96 an ounce by 0343 GMT, after reaching its highest since Aug. 18 at $1,294.88 earlier. It gained nearly 0.4 percent in the previous session

• “The rhetoric surrounding Jackson Hole was in part an optimistic one, owing to the ECB president’s comment that ’global recovery is firming up’ while the euro area growth was ’gaining ground’,” OCBC analyst Barnabas Gan said.

“...Yellen and Draghi remained ambiguous over monetary policy strategies, thus giving market players the reason to lift gold prices on monetary policy uncertainty.”

“Gold prices could breach $1,300 per ounce this week should safe haven demand stay supported on Trump’s threat to quit NAFTA amid North Korean tensions,” Gan said.

• Speculators raised their net long position in COMEX gold for the sixth straight week in the week to Aug. 22, the Commodity Futures Trading Commission data showed on Friday.

• Among other precious metals, silver edged up 0.3 percent to $17.10 an ounce, after earlier touching its best since Aug. 18 at $17.21.

Reference: Reuters