RIYADH: Gold inched higher on Monday, as weakness in Treasury yields kept prices above the $1,800-mark and marginally outweighed pressure stemming from elevated US dollar levels.
Spot gold was up 0.1 percent at $1,811.99 per ounce, by 0319 GMT.
US gold futures rose 0.6 percent to $1,812.10.
Silver eases
Spot silver eased 0.2 percent to $19.84 per ounce, while platinum fell 0.5 percent to $884.49.
Palladium dropped 1.3 percent to $1,934.40.
Copper languishes near 17-month low amid slowdown fears
Copper prices slipped on Monday to hover near a 17-month low as renewed lockdowns in top consumer China and the prospect of aggressive rate hikes stoked fears of global economic slowdown, denting demand for metals.
Three-month copper on the London Metal Exchange was down 0.3 percent at $8,027.50 a ton, as of 0404 GMT.
The most-traded August copper contract in Shanghai fell 2.1 percent to $9,153.68 a ton by the midday break.
Russian ship carrying Ukrainian grain detained by Turkey
Turkish customs authorities have detained a Russian cargo ship carrying grain which Ukraine says is stolen, Ukraine’s ambassador to Turkey said on Sunday.
Ukraine had previously asked Turkey to detain the Russian-flagged Zhibek Zholy cargo ship, according to an official and documents viewed by Reuters.
Reuters reporters saw the Zhibek Zholy ship anchored about 1 km from shore and outside of the Karasu port on Sunday, with no obvious signs of movement aboard or by other vessels nearby.
“We have full co-operation. The ship is currently standing at the entrance to the port, it has been detained by the customs authorities of Turkey,” Ambassador Vasyl Bodnar said on Ukrainian national television.
Bodnar said the ship’s fate would be decided by a meeting of investigators on Monday and that Ukraine was hoping for the confiscation of the grain.
