Gold prices remained near $1750 an ounce on Monday, recovering slightly from a 6-week low of $1741 hit last Thursday, as uncertainty over the fate of debt-laden developer China Evergrande and its broader impact lifted the yellow metal safe-haven appeal. Physical gold demand in China reportedly rose last week, amid the potential default from the property crisis while a seasonal pickup was seen in India ahead of Diwali festivals. Last week, gold posted its third straight weekly loss, dragged down by a series of hawkish signals from major central banks. The Federal Reserve confirmed tapering could begin as soon as November and interest rate hikes could follow earlier than expected and the Bank of England noted that the case for modest tightening strengthened.
