Spot gold traded steady as investors weighed geopolitical tensions and grim virus figures in some U.S. states. Silver futures on the Comex were near $20 an ounce, which would be the highest level since 2016.

President Donald Trump has indicated to aides that he doesn’t want to further escalate tensions with Beijing, and has ruled out additional sanctions on top officials for now, according to people familiar with the matter. Asian stocks began Thursday in a mixed fashion ahead of a slew of economic data in China that will provide clues on the path of economic recovery from the pandemic.

Silver futures held gains after surging as much as 1.6% on Wednesday. Precious metals have advanced as the pandemic fuels haven demand, while easing monetary policy around the globe has aided non-interest-bearing assets.

Spot gold was little changed at $1,809.12/oz at 9:18am in Singapore. Spot silver -0.7%. The Bloomberg Dollar Spot Index traded steady.

Source: Bloomberg