WASHINGTON (dpa-AFX) - Gold prices were modestly higher on Wednesday, with a weaker dollar, simmering trade tensions and Fed rate cut bets offering some support.
Spot gold edged up by 0.3 percent to $3,362.47 per ounce in European trade while U.S. gold futures were up 0.2 percent at $3,384.02.
The dollar was slightly lower, making bullion attractive for holders of other currencies. Treasury yields also dipped as markets price in two Federal Reserve rate reductions this year beginning in October.
Traders monitored the latest tariff headlines ahead of a deadline for U.S. trading partners to make their 'best offers'.
U.S. President Donald Trump today described Chinese President Xi Jinping as 'extremely hard' to strike a deal with, even as the White House reiterated that the two leaders will talk 'very soon.'
The Trump administration is actively monitoring China's compliance with the Geneva trade agreement, White House Press Secretary Karoline Leavitt said.
In economic releases, trading later in the day may be impacted by reaction to reports on U.S. private sector employment and service sector activity.
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