Gold eases as US-China trade talks lower bullion demand
Gold prices edged down on Monday as optimism over possible easing of U.S.-China trade tensions dampened bullion demand, while an outsized U.S. jobs report tempered expectations of interest rate cuts by the Federal Reserve.
Spot gold edged 0.1% lower to $3,310.68 an ounce, as of 0400 GMT. U.S. gold futures lost 0.5% to $3,330.10.
Three top aides of U.S. President Donald Trump will meet with their Chinese counterparts in London later in the day to discuss the trade disputes between the two economies, a standoff that has kept global markets on edge.
"Short-term traders do not want to take aggressive long positions right now ahead of the outcome of the U.S.-China talks," said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA.
Although tariffs won't disappear, the talks may lower the baseline, Wong said, adding that the cost of doing business in the U.S. will remain elevated, and the widening U.S. budget deficit could exacerbate inflationary pressures.
On the technical front, spot gold is expected to retest support at $3,296, a break below which could open the way towards $3,262, according to Reuters technical analyst Wang Tao.
U.S. non-farm payrolls topped expectations, with wage growth exceeding projections and the unemployment rate steady.
Investors scaled back bets on rate cuts for the year from two to only one in October. U.S. CPI data, due on Wednesday, could give more clues.
Meanwhile, Trump said a decision on the next Fed chair would be announced soon, adding that a "good Fed chair" would lower rates.
The bullion, a safe-haven asset, often thrives during uncertainties and in low-interest-rates environment.
China's central bank added gold to its reserves in May for the seventh straight month, official data showed.
Elsewhere, spot silver was unchanged at $35.98 per ounce, platinum edged up 0.1% to $1,170.89, while palladium fell 0.4% to $1,042.52.
(Reporting by Anmol Choubey in Bengaluru; Editing by Harikrishnan Nair and Sumana Nandy)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
an hour ago
- Zawya
South Africa: Hyperlocal is lekker, the AI-powered search revolution
Local is lekker, not only in SA but around the world – especially when you are talking search platforms. The fact is, search has evolved beyond traditional search engines like Google - only 64% of Gen Z search for products and services on traditional search engines first (Forbes survey 2024). More and more users now use diverse platforms like TikTok, Amazon and Instagram to find out about the latest products, coolest travel destinations or what not to buy. Driven by the rise of AI and other technologies, search fragmentation means consumers use a variety of platforms and ways to find what they are looking for. And more and more are choosing platforms that are able to customise and localise answers to the individual's needs, making local SEO a crucial outreach tool. With AI-driven search on the rise, brands need to adapt fast. Bryony Rose, one of the Nedbank IMC's much anticipated international keynote speakers, will fly in from London on the 18th September to talk search fragmentation and what it means for the industry. Bryony is the director for Enterprise International Business at Yext, the leading digital presence platform for multi-location brands with thousands of customers worldwide. 'AI-driven search experiences don't care if you're the biggest brand name with the biggest ad spend, AI-driven search prioritises the best answers for that individual,' explains Bryony. 'And while marketers have adopted AI to improve workflows and communication outputs, many aren't meeting the rapidly increasing demands of AI-driven search.' Marketers need to know where their audience is searching and adapt strategies accordingly. With AI-driven platforms processing data differently than traditional search engines, search has evolved from simple keyword searches to more conversational and context-driven queries. To stay relevant, marketers need to factor in these unique algorithms and user behaviours. In short, driving real business value means being able to provide the customised answers that users are searching for - is your business prepared for this new search landscape? Book your ticket and listen to Bryony as she reflects on these questions and more. Attend in-person or online. Venue – Mosaiek Teatro. 1 Danielle Street, Fairland, 2030. First early bird sold out. In-person tickets priced at R3500 (excl. VAT). Limited seats available. No allocated seating. Virtual tickets priced at R950 (excl. VAT). Book now. For more information visit: The annual Nedbank IMC Conference is Africa's foremost integrated marketing conference. Launched in 2019 it has become Africa's biggest marketing conference. The Integrated Marketing Collective (IMC) believes that Marketing is Business® and that marketing deserves its place at the boardroom table. This conference has more CMOs, senior marketers and agency leaders attending than any other in Africa and is relevant to anyone in the business of communication. One day of 15-minute presentations (with some exceptions), the conference is known for its hard-hitting global agenda with no sales pitches. The Nedbank IMC is presented in association with MASA, in collaboration with the ACA and is endorsed by the IAB. The 2025 theme is 'Marketing is Business®'.
Zawya
an hour ago
- Zawya
Wall Street futures subdued as US-China trade talks grab focus
U.S. stock index futures were subdued on Tuesday as investors awaited the outcome of a second day of trade talks between the United States and China aimed at cooling a tariff dispute that has bruised global markets this year. Investors are hoping for an improvement in ties after the relief sparked by a preliminary deal agreed in Geneva last month gave way to fresh doubts when Washington accused Beijing of blocking exports that are critical to sectors including autos, aerospace, semiconductors and defense. White House economic adviser Kevin Hassett said on Monday the U.S. was likely to agree to lift export controls on some semiconductors in return for China speeding up the delivery of rare earths. "The pause in tariff hostilities is a positive starting point as the U.S. seeks the restoration of rare earth mineral exports from China which would inevitably result in a mutual relaxation," Richard Hunter, head of markets at interactive investor, said in a morning note. At 05:44 a.m. ET, Dow E-minis were down 35 points, or 0.08%, S&P 500 E-minis were up 2.75 points, or 0.05%. Nasdaq 100 E-minis were up 12.25 points, or 0.06% U.S. equities rallied sharply in May, with investors boosting the S&P 500 index and the tech-heavy Nasdaq to their biggest monthly percentage gain since November 2023, helped by upbeat earnings reports and a softening of President Donald Trump's harsh trade stance. The S&P 500 remains a little over 2% below all-time highs touched in February, while the Nasdaq is about 3% below its record peaks reached in December. Investors are awaiting U.S. consumer prices data on Wednesday for clues on the Federal Reserve's rate trajectory. While traders largely expect the Fed to keep interest rates unchanged next week, focus will be on any signs of pick-up in inflation as Trump's tariffs risk raising price pressures. Traders see at least two 25-basis point cuts by year-end, with a 63% chance of the first cut in September, according to the CME FedWatch tool. Shares of vaccine makers dipped in premarket trading. Health Secretary Robert F. Kennedy Jr. ousted all 17 members of a U.S. Centers for Disease Control and Prevention panel of vaccine experts and is in the process of replacing them, his department announced on Monday. Shares of vaccine maker Moderna were down 0.5% while Pfizer inched down 0.1%. (Reporting by Kanchana Chakravarty in Bengaluru; Editing by Devika Syamnath)
Zawya
an hour ago
- Zawya
Global Industrial Property Enters New Phase as Supply Chains Shift and Landlords Expected to Gain Ground
The Logistics Real Estate Market on the Chinese Mainland Shows Signs of Stabilization Amid Ongoing Consumer and Industrial Demand HONG KONG SAR - Media OutReach Newswire - 10 June 2025 - Cushman & Wakefield (NYSE: CWK) has published its inaugural global logistics and industrial outlook, ' Waypoint 2025 ', which highlights a significant shift in the sector as global supply chains are reconfigured and cost pressures evolve. Drawing on insights from more than 120 markets worldwide, the report shows that in the near term, the balance of power is tilting towards landlords, with wide-reaching implications for occupiers, investors, and developers. The research reveals that globally, the proportion of tenant-favourable markets is expected to fall sharply from 52% today to just 28% by 2028. This change is being driven by constrained supply, robust demand, and rising costs across key inputs such as rent, labour, construction materials, and electricity. At the same time, landlord-favourable markets are forecast to rise from 24% to 35%, signalling a more competitive leasing environment in the years ahead for occupiers. In Asia Pacific (APAC), fundamentals remain strong but market conditions are becoming more nuanced. The region currently offers more balanced conditions, with 24% favouring landlords and 33% favouring tenants. Over the next three years, markets in the region are expected to move away from a balanced, neutral position toward more polarising tenant- and landlord-favourable market conditions. Neutral markets are expected to decline to 29% from the current 42%, while tenant-friendly markets are anticipated to grow to 38% from 33%. Similarly, landlord-favourable markets are expected to rise to 33%, up from 24%. Dr. Dominic Brown, Head of International Research at Cushman & Wakefield said, " Asia Pacific markets are diverging, with Australia and Southeast Asia seeing a shift towards landlord-favourable conditions, while other parts of the region face rising vacancies and tenant-friendly dynamics. Nevertheless, 62% of APAC markets still expect rental growth in the next three years, driven by robust occupier demand, strategic manufacturing shifts and the region's cost competitiveness in labour and energy." In terms of labour costs, APAC remains highly competitive, with countries like India, Vietnam, Philippines, and Indonesia having significantly lower wages. China has moved toward higher value-added manufacturing, with wages around 50% of the global average. Another highlight of the report is that general manufacturing, retail distribution and e-commerce distribution are the top three key drivers of demand for logistics and industrial space in Asia Pacific. This is very much aligned to what is being seen across the world. High-tech and automotive manufacturing have also been identified as drivers of occupier demand in APAC over the next three years. Dennis Yeo, Head of Investor Services and Logistics & Industrial, APAC, Cushman & Wakefield said:"Asia Pacific continues to demonstrate resilience, with markets such as India and Vietnam seeing sustained occupier demand. However, rising vacancy in some subregions, driven by a surge in new supply means that a one-size-fits-all approach no longer works. Businesses must adopt granular, market-specific strategies that account for local cost structures, infrastructure readiness, and automation potential." The logistics market on the Chinese mainland continued its path to stabilization and recovery in 2024, underpinned by favourable structural drivers. Key catalysts include the emergence of industrial clustering, the acceleration of new logistics productivity, and a more balanced supply-demand environment, all of which are reinforcing the market's long-term fundamentals. In the consumer segment, the rapid rise of new e-commerce formats — notably live-streaming commerce and instant retail — has been instrumental in driving online consumption. Combined with the effective rollout of consumer goods trade-in policies, these trends have led to sustained growth in online retail sales of physical goods, bolstering demand for high-quality logistics infrastructure. On the industrial front, strong logistics demand for industrial goods has been observed, supported by continued manufacturing activity and supply chain modernization. This dual-sector momentum — consumer and industrial — is injecting fresh vitality into the premium logistics warehouse market, reinforcing its status as a core asset class in the evolving logistics ecosystem on the Chinese mainland. Tony Su, Managing Director, Head of Industrial & Logistics Property Services, China, Cushman & Wakefield said: " The transformation and upgrading of key industries are fueling renewed demand for warehouse space. This resurgence in leasing activity is expected to absorb incoming supply efficiently, supporting steady growth in both occupancy levels and rental rates—particularly within the premium logistics warehouse segment. These dynamics position the sector for healthier and more sustainable long-term development." The report concludes that resilience and diversity in supply chains will be essential for navigating both short- and long-term market shocks. Businesses that act decisively and strategically will be best placed to thrive in this evolving industrial landscape. The full report, including regional breakdowns of rental levels, market conditions and vacancy projections, energy and labour cost comparisons, and analysis of demand drivers such as e-commerce and manufacturing, is available at Waypoint 2025. Note to Editors 'Waypoint 2025' is Cushman & Wakefield's inaugural global logistics & industrial research report which includes results from a survey of Cushman & Wakefield logistics and industrial market-facing colleagues for 127 markets worldwide. The survey was conducted from 7-18th April 2025, after the Trump Administration announced the suspension of most higher tariff rates for 90 days, while maintaining the 10% levy on nearly all global imports. Please click here to download photos. Hashtag: #Cushman&Wakefield The issuer is solely responsible for the content of this announcement. About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2024, the firm reported revenue of $9.4 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit or follow us on LinkedIn ( Cushman & Wakefield
