Gold prices are holding near $4,000 an ounce as traders assess the implications of a trade truce between the US and China. Spot gold fell 0.8% on Friday after earlier rising 2.4%.
Gold prices are holding around $4,000 an ounce as traders assess the implications of a US-China trade truce that failed to fully allay fears of long-term competition between the world's two largest economies. This is reported by Bloomberg, writes UNN.
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Spot gold prices fell 0.8% on Friday after an earlier 2.4% gain, breaking a four-day losing streak. Chinese leader Xi Jinping called for stable supply chains in his first public statement after meeting with US President Donald Trump.
Gold and silver show sharpest decline after record highs22.10.25, 09:51 • 2941 view
The combination of sharp price cuts, a truce in the US-China trade war, and significant outflows from gold ETFs reinforces the corrective mood
— noted Robert Rennie, an analyst at Westpac Bank Corp.
He added that the price of bullion could fall to around $3,750.
Despite recent declines, gold has risen more than 50% this year, supported by investors' desire to protect portfolios from risks and active central bank purchases. According to the World Gold Council, central banks bought 28% more gold in the third quarter compared to the previous period. Silver fell, while platinum and palladium showed slight gains.
Gold prices fall below $4,000 an ounce amid easing trade tensions28.10.25, 09:49 • 2873 views
