Gold stuck in a range ahead of G20 meeting
The metal is range-bound as the dollar treads water after mixed messages from Donald Trump about the chance of a trade deal with Beijing
Bengaluru — Gold prices held range-bound on Friday as the dollar trod water after US President Donald Trump sent mixed signals about the prospects for a trade deal with Beijing, while palladium notched a record high. Spot gold was little changed at $1,224.10/oz, as of 3.57am GMT. US gold futures were flat at $1,230.5/oz. Donald Trump and Chinese leader Xi Jinping are expected to discuss trade on the sidelines of the Group of 20 (G20) summit in Argentina on Saturday, where global trade tensions are expected to dominate the agenda. However, Trump sent mixed signals on Thursday about the trade deal, saying an agreement was close but he was not sure he wanted one, just as he left for Argentina for a meeting with Xi. “The gold market shall be closely looking ahead to further cues from the G20 summit this weekend,” said Sugandha Sachdeva, vice-president of metals, energy and currency research at Religare Broking. “Any positive development will be negative for the dollar index, which has b...
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