Gold Holds Steady Ahead of Key U.S.–China Trade Talks
Investors cautious as spot gold edges up while markets await signals from high-stakes negotiations in London.
Watan-Gold prices stabilized on Monday amid growing optimism ahead of the scheduled U.S.–China trade talks later today, which could help ease tensions between the two global powers.
Spot gold rose slightly by 0.1% to $3,313.54 per ounce as of 05:43 GMT, while U.S. gold futures dropped by 0.4% to $3,333.80.
Three senior officials from President Donald Trump’s administration are expected to meet Chinese counterparts in London later today to discuss trade disputes that have disrupted global markets.
Kelvin Wong, Chief Market Analyst for Asia-Pacific at OANDA, commented:“Short-term traders are reluctant to build long positions ahead of the U.S.–China trade outcomes.”
He added that although tariffs are unlikely to be eliminated, the talks could lead to a reduction in baseline levels. However, high business costs in the U.S. and the widening federal budget deficit could worsen inflationary pressures.
Technically, Reuters analyst Wang Tao noted that spot gold may retest the $3,296 level, and breaking below it could open the way toward $3,262.
Meanwhile, U.S. non-farm payroll data exceeded expectations, with wage growth beating forecasts and the unemployment rate holding steady.
As a result, investors have scaled back expectations for two rate cuts this year, now anticipating just one in October. The upcoming U.S. Consumer Price Index (CPI) data, set for release on Wednesday, is expected to offer more insight.
Gold—typically a safe-haven asset—often gains during periods of uncertainty and low interest rates.
Among other precious metals:
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Silver rose 0.2% to $36.03/oz
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Platinum climbed 1.6% to $1,187.80/oz
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Palladium slipped 0.1% to $1,045.61/oz
