Spot Gold was mostly stable on Tuesday, as investors were on watch for further developments in regard to trade talks between the US and China.
Communication between the two countries appears constructive, as President Donald Trump has stated that he had “a very good phone call with President Xi Jinping” during which they discussed details regarding a recently signed deal. According to Trump, the call “resulted in a very positive conclusion for both countries.”
High-profile US-China trade negotiations commenced in London on Monday and are expected to continue today.
US Treasury Secretary Scott Bessent described yesterday’s talks as a “good meeting,” while Commerce Secretary Howard Lutnick said they were “fruitful”.
On the data front, market players now awaited the key US CPI inflation report that may provide further clues over the Federal Reserve’s monetary easing path.
Spot Gold was last up 0.16% on the day to trade at $3,330.84 per troy ounce.
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