Gold was flat on positive signs that China will implement more stimulus and further monetary tightening from major central banks. Gram gold, on the other hand, continues its course close to record levels.
Gold remained flat after closing the week with a decline as further monetary tightening and reduced demand for safe assets kept prices under pressure.
Spot gold is hovering near $1,955 an ounce. According to the calculations made on ounce gold and the interbank dollar rate, gram gold is close to record levels and finds 62.96 buyers.
Gold slid 0.2 percent last week on signs that the Fed and the European Central Bank will continue to raise interest rates. The precious metal has been trading mainly in a narrow range of 1,940-1,980 this month.
Gold and other safe assets are struggling to gain momentum as markets turn to risky assets amid signs of thawing China-US relations and optimism that China will unleash more stimulus to bolster its weakening recovery.