Gold is set for the second weekly advance in three after the first day of crucial trade talks between the U.S. and China wrapped up ahead of the threatened imposition of higher tariffs on the Asian economic powerhouse.
Any ramp up of tariffs will deepen a conflict that has roiled financial markets and cast a shadow over the global economy. President Donald Trump insisted it was still possible to reach a deal this week, saying he had received a “beautiful letter” from Chinese President Xi Jinping and that the two leaders would probably speak by phone.
Spot gold holds gains at $1,284.30/oz at 10:44am in Singapore; +0.4% this week.
Source : Bloomberg