Gold Prices Remain Steady Amid Trade Talk Watch

Gold prices exhibited stability on Friday, poised to secure their third consecutive week of gains, as investors maintained a positive outlook while carefully monitoring developments in trade negotiations between the United States and China. Spot gold held steady at $3,348 per ounce as of 0250 GMT.

U.S. gold futures experienced a rise of 0.3%, reaching $3,359.

IG market strategist Yeap Jun Rong commented, “While extensive positioning in gold might suggest a short-term consolidation, the retracement has been limited thus far, as investors persist in seeing gold as a strong protection amid ongoing uncertainty.”

U.S. President Donald Trump stated on Thursday that trade discussions between the U.S. and China are ongoing, countering claims from China that no talks have occurred to de-escalate the current trade conflict.

A spokesperson for China’s commerce ministry conveyed that if the U.S. genuinely desires to resolve the trade dispute, it should eliminate all unilateral tariff impositions against China.

Non-yielding bullion, frequently regarded as a safe haven against global economic uncertainty and performing well in environments with low-interest rates, has increased by over $700 this year, establishing numerous record highs. It peaked at $3,500.05 on Tuesday.

Rong added, “Looking ahead, structural advantages remain intact, with additional potential for reserve diversification among emerging markets as they gradually align with the reserve composition of advanced economies.”

Federal Reserve officials suggested they perceived no immediate need to adjust monetary policy, seeking further data to assess how the Trump administration’s tariffs were impacting the economy.

Traders are currently anticipating approximately 84 basis points worth of rate reductions by the end of 2025.

On the geopolitical landscape, President Trump criticized Russian President Vladimir Putin following a Russian missile and drone assault on Kyiv, Ukraine’s capital, which resulted in at least 12 fatalities and marked the most significant attack of the year.

Among other precious metals, spot silver decreased by 0.5% to $33.42 per ounce, platinum slightly declined by 0.1% to $969.65, and palladium dropped by 1.2% to $943.24.