Gold rose to its highest in more than a week on Monday, supported by Middle East tensions and uncertainty over US-China trade talks, while palladium hit an all-time high.

Spot gold rose 0.2 per cent to $1,519.56 per ounce at 0818 GMT per ounce, touching a high since September 12.

US gold futures rose 0.8 &nbsp;per cent to $1,527.20.

"No significant news is coming out of the trade war until and unless we have some clarity on the negotiations, gold will be supported," said Hareesh V, head of commodity research at Geojit Financial Services.

A US-China trade breakthrough seemed unlikely after President Donald Trump told reporters on Friday he was "not looking" for a partial deal and Chinese officials cancelled goodwill visits to US farmers.

But both sides later published positive statements. The US Trade Representative's office described last week's talks as "productive" and China's Commerce Ministry called them "constructive." October's high-level talks remain on track.

"On an immediate basis, gold is trading between the range of$1,465-$1,550. If the trade talks fail gold may rally to $1,660 or even higher," Hareesh said.

The bullion has risen about 18 per cent so far this year.

Tensions remained elevated in the Middle East after Washington ordered more troops to the Gulf region to strengthen Saudi Arabia's air and missile defences, following an attack on the kingdom's oil facilities. The United States has imposed more sanctions on Iran, penalizing Iran's central bank.

Saudi Arabia will appeal to a global gathering in New York this week for concerted action to punish and deter Iran after the strikes.

The dollar was nearly flat against a basket of currencies, while most Asian share markets slipped on Monday.

Holdings at SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 1.2 per cent to 894.15 tonnes on Friday.

COMEX gold speculators raised net long position by 14,150 contracts to 261,878 in the week to September 17, according to the US Commodity Futures Trading Commission data.

Spot palladium rose 0.8 per cent to $1,655 per ounce, after hitting a record high at $1,664.34 earlier in the session.

"Healthy demand, constrained supply and challenging liquidity conditions are likely driving prices higher," UBS strategist Joni Teves wrote in a note.

"A breakdown of US-China trade talks, deterioration in economic data and a pullback inequity from the highs present downside risks for palladium over the remainder of the year."

Silver nearly 2 per cent to $18.33 per ounce and platinum rose 0.8 per cent to $953.05 per ounce.

Gold rose to its highest in more than a week on Monday, supported by Middle East tensions and uncertainty over US-China trade talks, while palladium hit an all-time high.

Gold rose to its highest in more than a week on Monday, supported by Middle East tensions and uncertainty over US-China trade talks, while palladium hit an all-time high. Spot gold rose 0.2 per cent to $1,519.56 per ounce at 0818 GMT per ounce, touching a high since September 12. US gold futures rose 0.8 per cent to $1,527.20. "No significant news is coming out of the trade war until and unless we have some clarity on the negotiations, gold will be supported," said Hareesh V, head of commodity research at Geojit Financial Services. A US-China trade breakthrough seemed unlikely after President Donald Trump told reporters on Friday he was "not looking" for a partial deal and Chinese officials cancelled goodwill visits to US farmers. But both sides later published positive statements. The US Trade Representative's office described last week's talks as "productive" and China's Commerce Ministry called them "constructive." October's high-level talks remain on track. "On an immediate basis, gold is trading between the range of$1,465-$1,550. If the trade talks fail gold may rally to $1,660 or even higher," Hareesh said. The bullion has risen about 18 per cent so far this year. Tensions remained elevated in the Middle East after Washington ordered more troops to the Gulf region to strengthen Saudi Arabia's air and missile defences, following an attack on the kingdom's oil facilities. The United States has imposed more sanctions on Iran, penalizing Iran's central bank. Saudi Arabia will appeal to a global gathering in New York this week for concerted action to punish and deter Iran after the strikes. The dollar was nearly flat against a basket of currencies, while most Asian share markets slipped on Monday. Holdings at SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 1.2 per cent to 894.15 tonnes on Friday. COMEX gold speculators raised net long position by 14,150 contracts to 261,878 in the week to September 17, according to the US Commodity Futures Trading Commission data. Spot palladium rose 0.8 per cent to $1,655 per ounce, after hitting a record high at $1,664.34 earlier in the session. "Healthy demand, constrained supply and challenging liquidity conditions are likely driving prices higher," UBS strategist Joni Teves wrote in a note. "A breakdown of US-China trade talks, deterioration in economic data and a pullback inequity from the highs present downside risks for palladium over the remainder of the year." Silver nearly 2 per cent to $18.33 per ounce and platinum rose 0.8 per cent to $953.05 per ounce.

Gold hits more than one-week high on Gulf tensions

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Gold hits more than one-week high on Gulf tensions