Gold prices rose on Thursday as the U.S. dollar traded close to a one-week low hit in the previous session, while investors awaited progress on the Sino-U.S. trade negotiations.
Spot gold climbed by 0.2 percent to $1,292.16 per ounce as of 07:56 GMT. U.S. gold futures firmed 0.1 percent at $1,296.80 an ounce.
Any positive development around Sino-U.S. trade tends to be negative for the dollar, which has been the preferred safe-haven during the year-long tariff dispute between the world’s top two economies.
The dollar was trading near one-week low posted in the previous session after data showed U.S. services sector activity hit a more than 19-month low in March and private payrolls grew less than expected.
Source : Reuters