Trump, Xi to review, Approve Framework Agreement, Officials Says
Us consumer price index data due 1230 gmt
June 11-Gold Pries Rose on Wednsday as Uncertainty Surrounding The Finalization of a Us -China Trade Agreement Weighed on Sentiment and Fuelled Somen-Even Buying, with Investors Awaiting key Inflation Data for Further Market Direction.
Spot Gold Gained 0.5% to $ 3,339.60 an oourage, as of 0350 gmt. Us gold futures rose 0.5% to $ 3,361.20.
Us and Chinese Officials said on tuesday they have agreed on a framework to put their trade truce back on track and remove china’s expenses on rare earths, white offering of ais Resolution to Longstanding Trade Differences.
At the end of two days of intenses negotiation in London, Us Commerce Secretary Howard Lutnick Said That His Team Plans to Present the Framework to President Donald Trump for Approval Prior to IMPLEMP FORP Chinese delegation will similarly seek an endorsement from president xi jinping.
“We know that us and chinese negotiators have agreed on a ‘framework’, but until trump or xi approves them, uncertainty lingers. And that uncerty is supporting golding inflation Figures, “said matt simpson, a Senior analyst at City Index.
The US and China had imposed tit-for-tat tariffs in April, Sparking a Trade War. Following Talks in Geneva Last Month, Both Nations Agreed to Cut Tarifs Back from Triple-Digit Levels.
The world bank on tuesday slashed its global growth forecast for 2025 by 0.4% to 2.3%, saying that Higher Tarifs and Heightened Uncertainty Posed A “Significant Headwind” For Nearly All Economies.
The US Consumer Price Index Report DUE at 1230 GMT COLD GIVE Investors More Guidance on the Us Federal Reserve’s Policy Path.
The federal reserve will keep interest rates on hold for at least another couple of months, according to most economists pollled by reates, as risks linger that infection may resurge due to trump ‘ Policies.
Elsewhere, Spot silver was unchanged at $ 36.56 per oounce, platinum also steadied at $ 1,222.14, While Palladium was up 0.6% to $ 1,066.19.
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