Gold prices edged higher on Thursday as investors closely monitored high-level talks between U.S. President Donald Trump and Chinese President Xi Jinping for signs of progress toward resolving the Iran conflict.
Spot gold rose 0.4% to $4,707.08 per ounce by 0732 GMT, while U.S. gold futures for June delivery gained 0.4% to $4,713.80.
Market sentiment remained cautious as traders awaited developments from the two-day U.S.-China summit. Analysts said the talks could influence broader geopolitical tensions and investor appetite for safe-haven assets such as gold.
“Gold appears to be consolidating for now as markets wait to see the outcome of the high-level discussions between the U.S. and China,” said Brian Lan, managing director at GoldSilver Central.
He added that gold prices currently show a slight downward bias, which could provide a buying opportunity for investors looking to enter the market.
At the opening of the summit on Thursday, Xi said trade negotiations between the two countries were making progress, but warned that disagreements over Taiwan could strain relations further and potentially lead to conflict. ـــReuters
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