Gold remains stable as the dollar continues to start the week

Gold futures advanced slightly on Monday after weak dollar at the end of last week when President Donald Trump complained of rising interest rates Federal Reserve and a strong local currency. delivery on Comex

GCQ8, -0.05%

increased by 10 cents, or less than 0.1%, to $ 1,231.20 an ounce. September money

SIU8, -0.15%

decreased 2.4 cents, or 0.2%, to $ 15,525 an ounce

Trump complained about tightening Fed policy during an interview Thursday and reiterated his complaints in Friday's tweets. also accused China and the European Union of manipulating their currencies and their interest rates. The dollar has weakened, providing support for gold, although the metal has still suffered a weekly decline of about 0.8%.

Read: Trump tears Fed rate hikes, but investors expect Powell to stay the course

Treasury Secretary Steven Mnuchin said this week end that he supported the independence of the Fed. The ICE index of the US dollar

DXY, + 0.06%

a measure of the US currency against a basket of six major rivals, changed little to 94.43. Commodities such as gold often show an inverse correlation with the dollar because a stronger currency makes them more expensive to users of other currencies and a weaker currency makes them cheaper.

Commerzbank analysts note data from Commodity Futures Trading Commission Speculators have significantly broadened their short net positions – bets will fall – to 26,400 contracts in the week to July 17, which is not the case. is not far from the record high of the end of 2015. Extreme positioning is often seen as a counter-current indicator.

"Speculative market players often behave very cyclically and in the past, this extreme positioning was frequently the indicator of a pronounced counter-movement in the near future. "A very negative market positioning at the end of 2015 was followed by a rise in the price of gold of around $ 300 in the first half of 2016."

SPDR Gold Shares

GLD, + 0.65%

The largest traded fund to invest directly in physical gold, was up 6 cents in pre-trade at $ 116.62 . The iShares Silver Trust

SLV, + 1.18%

was down 1 cent to $ 14.58

In other metals trade, September palladium

PAU8, + 0.52%

increased $ 2.30, or 0.3%, to $ 891.20 an ounce, while platinum from October

PLV8, + 0.76%

was up $ 5.10, or 0.6%, to $ 834.60 an ounce. September copper

HGU8, + 0.36%

increased by 1.65 cents, or 0.6%, to $ 2.77725 per pound.