WASHINGTON (dpa-AFX) - Gold futures rose to their highest in a week Wednesday, as wobbly stocks preserved the precious metal's safe have appeal.
June gold settled at $1,353.50/oz, up $4, or 0.3%, the highest since April 11.
This was before the 2 pm ET release of the Federal Reserve's Beige Book.
Business owners are getting nervous about a possible trade war with China, according to the Beige Book.
'Outlooks remained positive, but contacts in various sectors including manufacturing, agriculture, and transportation expressed concern about the newly imposed and/or proposed tariffs,' the Beige Book read.
New York Fed President William Dudley is scheduled to speak about the U.S. economic outlook and the implications for monetary policy at an event at Lehman College in New York at 3:15 pm ET.
At 4:15 pm ET, Fed Vice Chairman for Supervision Randal Quarles is due to speak on 'Navigating New Opportunities: Transatlantic Regulatory Reform' at the Bretton Woods Committee 2018 Annual Meeting in Washington.
Nickel prices surged to the highest in three years amid concerns about sanctions on Russia, the top producer of the metal.
Copyright RTT News/dpa-AFX