WASHINGTON (dpa-AFX) - Gold prices were little changed on Wednesday as the dollar index steadied around 97.5 after a three-day decline, buoyed by fresh trade agreements.
Spot gold was marginally higher at $3,432.08 per ounce in European trade while U.S. gold futures were virtually unchanged at $3,443.80.
The U.S. dollar is finding some footing after U.S. President Donald Trump announced trade agreements with Japan and the Philippines, easing concerns about the tariff war.
The prospects of an EU-U.S. trade agreement also improved after Trump said that EU representatives would come for trade negotiations on Wednesday.
'We have Europe coming in tomorrow, and the next day, we have some other ones coming in,' Trump said late on Tuesday, without specifying details.
Separately, U.S. Treasury Secretary Scott Bessent said he will meet his Chinese counterparts in Stockholm next week for their third round of trade talks and will work out what is likely an extension' to the current Aug. 12 deadline for negotiations.
He said that the negotiations with China can now take on a broader array of topics, potentially including Beijing's continued purchases of 'sanctioned' oil from Russia and Iran.
Meanwhile, Bessent said he was not pushing Fed Chair Jerome Powell to leave his post. 'Based on the way they cut rates last fall, they should be cutting rates now,' he said.
However, President Trump called Powell a 'numbskull' and predicted that he would be no longer in the role within eight months.
At the Large Banks Conference in Washington, D.C. on Tuesday, Powell didn't comment on the outlook for the economy or interest rates.
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