Gold Rises Amid Uncertainty Over U.S.-China Trade Deal - Jordan News
Gold Rises Amid Uncertainty Over U.S.-China Trade Deal Gold prices climbed on Wednesday as investor sentiment was shaken by ongoing uncertainty surrounding the U.S.-China trade agreement. This ambiguity boosted demand for safe-haven assets, with markets also awaiting key U.S. inflation data for further insight into economic trends. اضافة اعلان As of 03:50 GMT, spot gold rose by 0.5% to $3,339.60 per ounce, while U.S. gold futures increased by 0.5% to $3,361.20 per ounce. On Tuesday, U.S. and Chinese officials announced that they had agreed on a framework to revive their stalled trade truce, which includes lifting Chinese export restrictions on rare earth elements. However, there was little indication of a long-term resolution to the trade disputes that have persisted for years. Following two days of intense negotiations in London, U.S. Commerce Secretary Howard Lutnick said his team would present the framework to President Donald Trump for approval, while the Chinese delegation would seek the same from President Xi Jinping. 'We know U.S. and Chinese negotiators have agreed on a framework, but until it's signed off by Trump or Xi, uncertainty lingers. This uncertainty is supporting gold ahead of key inflation figures,' said Matt Simpson, senior analyst at City Index. The U.S. and China imposed mutual tariffs in April, triggering a trade war. Talks in Geneva last month led to a tentative agreement to reduce tariffs from their peak levels. On Tuesday, the World Bank downgraded its 2025 global growth forecast by 0.4% to 2.3%, citing rising tariffs and growing uncertainty as 'significant hurdles' for nearly all economies. Investors now await the U.S. Consumer Price Index (CPI) report, scheduled for release at 12:30 GMT, which may provide further guidance on the Federal Reserve's monetary policy trajectory. According to a Reuters poll of economists, the Federal Reserve is expected to hold interest rates steady for at least two more months, as inflation risks remain elevated, particularly due to President Trump's tariff policies. In other precious metals markets: Spot silver held steady at $36.56 per ounce Platinum remained flat at $1,222.14 per ounce Palladium rose 0.6% to $1,066.19 per ounce
(Agencies)
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