Gold Prices Are Stable As Optimism About Trade Talks Rises

Gold prices remained flat to a little lower on Thursday, and the dollar index has stabilized near its best level since Dec. 17. A two-day conference in Beijing kicked off to help resolve tense trade tensions between the United States and China.

Rising markets with a proliferation of optimism trade

Wall Street stocks were higher in Thursday's trading session as the latest round of US-China trade talks began in Beijing, with US Treasury Secretary Stephen Menochin and trade representative Robert Laitaizer scheduled to meet with their Chinese counterparts. At the same time, it is reported that US President Donald Trump is considering extending the deadline that the two countries must conclude in order to avoid further tariffs.

Elsewhere, the debate over border security in the United States continues. Trump is said to be ready to sign the initial agreement reached by Republican and Democratic lawmakers to avoid any further government closure. Meanwhile, Democratic Rep. Hakim Jeffreys said yesterday that the House of Representatives will vote on the two-party agreement later in the day.

US Futures Contracts

  • The Dow Jones Industrial Average rose 0.09% in the pre-sales market.
  • While the Nasdaq 100 rose 0.25% at the same time.
  • Meanwhile, the S & P 500 rose 0.12% ahead of the opening bell.

The dollar was slightly higher a day after data showed that US consumer prices remained unchanged for a third consecutive month in January, giving the Fed enough time to assess the effects of its previous rate hike. The euro was up 0.06% against the dollar at 1.1273

Precious metals trading

  • The spot price of gold changed slightly at $ 1,306.29 an ounce
  • While US gold futures fell half a percent to $ 1,308.75 an ounce.

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