Gold prices are trading firm against the US Dollar (USD) on Tuesday, with the precious metal trading near the $3,350 resistance level at the time of writing.
Ongoing trade talks between the United States and China continue to influence global risk sentiment, helping to stabilize the US Dollar (USD).
As US Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer, and US Commerce Secretary Howard Lutnick continue discussions with China's Vice Premier He Lifeng for the second day in London, markets remain focused on trade-related developments.
Ahead of Tuesday's meeting, Commerce Secretary Lutnick told reporters that trade talks with China are progressing well and added that he expects the talks to continue throughout the day, according to Reuters.
These negotiations are expected to continue influencing the direction of the Gold and US Dollar on Tuesday, as investors weigh the potential for eased tensions and improved economic cooperation between the world's two largest economies.
On Monday, Kevin Hassett, Director of the US National Economic Council (NEC), added to market optimism in an interview with CNBC, stating, "I expect this to be a short meeting with a firm handshake!".
In a Wall Street Journal comment, Hassett noted that the US anticipates "any export control from the US will be eased and the rare earths will be released in volumes." Once the more significant issues have been addressed, the US and China are expected to discuss less-urgent matters.
Source: Fxstreet
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