Gold enjoyed its third straight session of gains on Monday with industry experts predicting a little more shine for the precious metal with the Chinese holiday period just around the corner.
The price of spot gold rose by around $6 at the start of the session before easing back a little as European trading hours got under way. The price was at $1,232.40 per ounce by 12.30 p.m. GMT and has clocked a gain of over 4 percent since the start of the year.
Brad Gordon, the CEO of Acacia Mining - a gold mining business operating in Tanzania - said that the feeling in his industry was generally subdued but it is still optimistic that the price was about to head higher in the short-term.
"There's a general feeling the gold price is heading northwards ," he said, explaining that he had just attended the Investing in African Mining (Indaba) in Cape Town last week.