Global gold prices held steady near a two-week high on Monday as investors cut expectations for an upcoming interest rate hike by the US Federal Reserve.
Spot gold was almost flat at $4,175.02 an ounce, while US gold futures for August rose 1.5 percent to $4,186.80 an ounce. Last week, gold prices rose more than 2 percent after four straight weeks of declines.
Meanwhile, JPMorgan has predicted that demand for gold from key sectors may be lower than expected, which is likely to limit gold prices to $4,300 an ounce in the third quarter and $4,500 in the fourth quarter.
On the other hand, silver, platinum and palladium prices also saw a slight increase, while demand decreased due to a slight improvement in gold purchases in China and rising prices in India.
