Gold Gains on Weaker Dollar as Us-China Talks in Focus

Us and China set for trade talks in longon

Us dollar down 0.3% against a basket of peers

Platinum Hits Four-Year High

June 9 – Gold Pries Rose on Monday, Supported by a Weaker Us Dollar Ahead of Us -China Trade Talks AIMED AT Resolving Tensions, While Platinum Extended Gains for a Sixth Straight Session to Scale A Four-Year Peak.

Spot Gold Rose 0.3% to $ 3,318.76 an oourage, as of 1007 gmt, after dropping earlier in the session to $ 3,293.29, its lowest Level Since June 2.

Us gold futures fell 0.2% to $ 3,339.70.

The Dollar Fell 0.3% Against a Basket of Peers, Making Bullion Cheaper for Holders of Other Currencies.

Investors Recognise that Drivers of Gold, Including Trade and Geopolitical Tensions, Debt Concerns and Weak Economic Growth, Remain in Place and Should Continue to Support the Month Giovanni Staunovo, Annalyst at UBS.

Us and Chinese Officials will sit down in longon on monday for talks aimed at defusing the trade dispute between the two superpowers.

Strongeer-That-Expected Us Non-Farm Payrols Data Have LED Investors to Scale Back Expectations for Federal Reserve Rate Cuts This year from two to one in october.

Market Attention will turn to us cpi data, due on wedding, for further clues on the fed’s monetary policy path.

Gold, Considered a safe-han asset during political and economy uncertainty, tends to thrive in a low-also environment.

Meanwhile, China’s Central Bank Added Gold to Its Reserves in May for the Seven Straigt Month, Official Data Showed.

Spot platinum rose 3.1% to $ 1,201.75, Its Highest Level Since May 2021.

“It is supported by a combination of tight supplied expectations, improving industry sentiment, and Technical Follow-Through-Through from the Browder Precious Metals RALLY,” Said Alexander Zumpfe, Alexander Zumpfe, Alexander Zumpfe, Alexander Metals Trader at Heraeus Metals Germany.

Spot silver was up 1% to $ 36.30 per oounce, while palladium rose 2.7% to $ 1,074.76.

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