Gold
Gold rose 0.3 percent at $1,275.76 an ounce on Monday ahead of U.S. President Donald Trump's expected announcement of the next Federal Reserve chair, and amid a slightly weaker U.S. Dollar and Federal investigators probing Russian interference in the 2016 U.S. election.
The metal is facing a slew of potential risks this week, including a two-day U.S. Federal Reserve policy meeting, U.S. payrolls data on Friday, ongoing unrest in Spain's Catalonia region, and central bank meetings in Japan and UK.
The U.S. dollar fell on Monday as political situations in the U.S. weighed on the dollar amid news that President Donald Trump's former campaign manager faces charges of conspiracy.
Federal investigators probing Russian interference in the 2016 U.S. election charged President Donald Trump's former campaign manager Paul Manafort and another aide, Rick Gates, with money laundering on Monday. A third former Trump adviser, George Papadopoulos, pleaded guilty in early October to lying to the FBI. It was a sharp escalation of U.S. Justice Department Special Counsel Robert Mueller's five-month-old investigation.
Fed governor Jerome Powell, considered a moderate, is widely tipped to take over from Janet Yellen when she steps down as Fed chair in February, reversing previous expectations over Stanford University economist John Taylor. The news dragged the dollar down and pushed gold up.

Silver
Silver closed up 0.04 percent at $16.817 an ounce. On technical front, the white metal continued to trade between $16.5 to $17, and can hardly breach the range. Consolidation is quite likely. On trading strategy, investors are recommended to buy on dips and sell on high within the aforementioned range.

 
Dealing Room, ICBC Beijing Branch
Lv Yan