Gold continued to rise following the depreciation of the US dollar despite the relatively limited movement in today's trading session.
Ahead of the opening of the European session, gold traded at $ 1,876 per ounce, while gold futures were positive at $ 1,880 per ounce (2.40pm Malaysian time).
News that the UK and the European Union (EU) are getting closer to a trade agreement has driven the pound and euro, as well as other major currencies, rising, pushing the greenback dollar down.
All market focus is now focused on developments on Brexit which are expected to be achieved this morning London time.
In the latest development, Laura Kuenssberg, who is also a BBC journalist, said UK Prime Minister Boris Johnson is expected to speak to the EU chief at about 7am UK time and followed by a press conference at 8am (4.00pm Malaysian time).
While this news should have suppressed gold trading, due to the depreciation of the US dollar, the yellow metal took advantage of this opportunity to increase.
However, the movement of safe-haven metals is quite limited as investors are also turning to risk assets due to positive market sentiment as well as being influenced by the slow market movement ahead of the Christmas holidays.
