Gold held near the highest since late March after the International Monetary Fund cut its outlook for global growth to the lowest since the financial crisis, boosting demand for haven assets.
Also weighing on sentiment is President Donald Trump’s latest threat to impose tariffs on $11 billion in imports from the European Union, while trade negotiations with China remain unsettled. Investors will be looking to the Federal Reserve minutes, American inflation data and a European Central Bank decision later Wednesday for further signals on the outlook for growth.
Spot gold steady at $1,304.51/oz; prices rose to $1,306.26 on Tuesday, the highest intraday level since March 28.
Source : Bloomberg