Gold futures steadied near a one-year low Wednesday as a leading dollar index eased, while a percolating trade spat between the U.S. and Europe faced a key test in the afternoon meeting between the European Union’s top official and President Donald Trump.
Financial markets from stocks to bonds to precious metals and currencies were largely rangebound as the European Commission President Jean-Claude Juncker and Trump prepared to meet at the White House at 1:30 p.m. Eastern time to try to de-escalate the trade fight.
Gold for August delivery on Comex was up $5.50, or 0.4%, at $1,231.10 an ounce Wednesday after a choppy start to the week. Prices had settled at $1,224 at one point last week, the lowest for a most-active contract in about a year. September silver added 7 cents, or 0.5%, to $15.595 an ounce on Wednesday.