Gold price clings to modest gains on Tuesday after bouncing off a daily low near the $3,300 figure as talks between the United States (US) and China appear to be progressing well, improving risk appetite among investors who are driving US equities higher. The XAU/USD trades at $3,328, up 0.10%. The market mood remains positive, fueled by the reunion between US and Chinese officials in London. Meanwhile, price action in the financial markets remains choppy as traders await the release of the latest US Consumer Price Index (CPI) figures for May. Estimates suggest that prices most likely rose,...
Oil was little changed, as traders digested an initial agreement between the US and China to improve trade relations following talks in London. West Texas Intermediate held near $65 a barrel, after losing 0.5% on Tuesday, while Brent settled above $66. Washington and Beijing reached a framework deal, according to Commerce Secretary Howard Lutnick, with implementation subject to presidential approvals. The sides agreed to implement a consensus reached in Geneva in earlier talks, a Chinese official said. Crude has dropped this year as the Trump administration's aggressive trade...
Gold edges higher in the early Asian session as traders nervously eye U.S.-China trade talks. "Hopes for a resolution between the world's two largest economies could potentially ease global trade disruptions," Pepperstone's Quasar Elizundia says in an email. "Further progress or a potential deal could be bearish for gold, which had previously benefited from geopolitical tensions," the research strategist adds. The negotiations have been "productive," U.S. Treasury Secretary Bessent said as he headed back to the U.S. for planned testimony to Congress on Wednesday. Spot gold is 0.1% higher...