Gold prices rose to around $4,260 per ounce on Monday after a sharp decline on Friday, with investors closely monitoring upcoming talks between US and China. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to meet this week in Malaysia to resume talks following last week’s flare-up in trade tensions. This comes after President Donald Trump last week expressed optimism that negotiations could lead to an agreement and described his threatened high tariffs on Chinese goods “unsustainable.” Meanwhile, the ongoing US government shutdown has stretched into another week with no clear end in sight, adding to broader market uncertainty. Markets are currently pricing in a 25bps cut at the Federal Reserve's October meeting and another in December. So far this year, bullion has surged more than 60%, fueled by heightened economic and geopolitical uncertainty, expectations of further US rate cuts, strong central bank buying, and ETF inflows.