FX.co ★ Gold Rises Amid Uncertainty Over US-China Talks

Gold climbed beyond $3,260 per ounce on Monday, driven by ongoing uncertainty surrounding U.S.-China trade negotiations, which boosted demand for assets perceived as safe havens. President Donald Trump expressed optimism on Sunday, stating his belief that China was inclined towards reaching an agreement, yet he did not provide specific details or a definitive timeline. The previous week saw Beijing indicating its evaluation of U.S. proposals to initiate trade discussions, emphasizing that certain preconditions would need to be met before any negotiations could proceed. Concurrently, the weakening of the U.S. dollar increased the appeal of gold for investors dealing in other currencies. Market participants are now focusing on the upcoming U.S. Federal Reserve policy meeting this week. Despite renewed pressure from President Trump advocating for an interest rate cut, the central bank is broadly anticipated to maintain current rate levels.