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, with US households feeling the impact of tariffs by the Trump administration.
Therefore, the Federal Reserve (Fed) could remain in its wait-and-see mode, keeping interest rates at the 4.25%-4.50% range
The US Dollar Index (DXY), which tracks the value of the Dollar against a basket of peers, recovers after hitting a daily low of 98.86 and is up 0.06% at 99.07.
On Tuesday, the US economic schedule revealed that small businesses are growing more optimistic, according to the National Federation of Independent Business (NFIB) Optimism Index, which improved in May compared to figures revealed in April.
Source: Fxstreet
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