Gold rose on Wednesday amid a steady dollar and uncertainty over the outcome of U.S.-China trade talks, while investors waited for minutes from the Federal Reserve’s meeting for clues on the outlook for U.S. interest rates.
Spot gold was up 0.2 percent at $1,293.53 per ounce, as of 0112 GMT. U.S. gold futures for June delivery were little changed at $1,292.50 per ounce.
The dollar index, which measures the greenback against a basket of six major currencies, was almost steady at 93.557.
Asian shares edged up on Wednesday but investors were cautious after U.S.President Donald Trump tempered optimism over progress made so far in trade talks between the world’s two largest economies.
Trump on Tuesday said he was not pleased with recent trade talks between the United States and China, but kept the door open for further negotiations.
Donald Trump said on Tuesday there was a “substantial chance” his summit with North Korean leader Kim Jong Un will not take place as planned on June 12 amid concerns that Kim is resistant to giving up his nuclear weapons.
The U.S. House of Representatives passed on Tuesday bipartisan legislation that would ease bank rules introduced in the wake of the 2007-2009 financial crisis, giving Trump a major legislative victory.
Households are feeling more stable, small businesses are making money and many expect to expand and hire in the coming year, signs of continued optimism in two key parts of the economy, the Federal Reserve reported Tuesday in a pair of annual surveys.
Underlying inflation in the euro zone will need time to accelerate and support the rise in headline inflation, European Central Bank policymaker Erkki Liikanen said in a presentation to the Finnish parliament on Tuesday.
Bank of England Governor Mark Carney said on Tuesday he expected Britain’s economy would bounce back from a weak start to the year when it was hit by heavy snowstorms, keeping the prospect of higher interest rates on the table.
Bank of Japan Governor Haruhiko Kuroda said the central bank will telegraph to markets how it plans to exit from ultra-easy policy when conditions for hitting its price goal become robust.
Source: Reuters
