Gold holds near more than one-week high as trade talks weigh on the dollar
Bengalur — Gold prices on Thursday held steady near a more than one-week high hit in the previous session, with the hope for a new round of US-China trade talks weighing on the dollar. Spot gold was firm at $1,205.16/oz at 3.17am GMT, after hitting its highest since August 31 at $1,208.48 on Wednesday. Bullion gained 0.7% in the previous session, its biggest one-day rise since August 24. US gold futures were also mostly steady at $1,210.50/oz. Senior US officials sent an invitation to their Chinese counterparts to hold another bilateral trade meeting, raising speculation about a subtle shift in Washington’s policy. The outreach comes as more than 85 US industry groups launched a coalition on Wednesday to take a fight public against President Donald Trump’s trade tariffs. "Signs of movement in Sino-US trade talks is the proximate cause [for steady prices], with a market that is still short and probably more sensitive to news, favouring the upside for gold," said Nicholas Frappell, gl...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.