Gold steadies near $4,379 as investors await U.S.-China talks

  • Gold held near $4,379 as markets awaited U.S.-China talks and monitored Middle East tensions.
  • Spot gold was $4,379.37 an ounce, while futures slipped to $4,417.57 after gold gained about 0.6% last week.
  • The Fed’s 25-basis-point hike, inflation outlook, oil prices and regional diplomacy remained central market focuses.

Gold prices were little changed in Asian trading near $4,379 an ounce as investors awaited talks between U.S. President Donald Trump and Chinese President Xi Jinping and monitored persistent Middle East tensions. Spot gold was $4,379.37 an ounce, while futures slipped to $4,417.57. Gold gained about 0.6% last week after Treasury yields and the dollar declined following the Federal Reserve’s unanimous 25-basis-point rate increase, which lifted the target range to 3.75%-4.00%. Investors are also assessing inflation, oil prices, further tightening prospects and diplomatic developments involving the United States, China, Iran, Saudi Arabia, Yemen and Qatar.

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