Gold showed modest gains Tuesday, climbing 0.3% to $3,336.33 per ounce, as markets closely monitored ongoing US-China trade discussions in London and anticipated key inflation data.
The talks, now in their second day, aim to ease tensions between the world’s two largest economies following reciprocal tariffs imposed in April.
While both nations agreed to a temporary tariff pause last month, investors remain cautious. Wednesday’s Consumer Price Index report will be crucial for gauging the Federal Reserve’s next moves on interest rates, with most expecting rates to remain unchanged at the June 17-18 meeting. Analysts note that while gold found support from dip-buyers, the rally lacks strong conviction.
Other precious metals showed mixed performance, with silver holding near 13-year highs at $36.72, platinum dipping slightly after recent gains, and palladium falling 1.4%.