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Gold price up, Silver spot fell

ByVictoria

Gold prices edged higher on Wednesday as a weaker dollar and simmering trade tension between the United States and China lifted demand for the safe-haven metal.

Spot gold was up 0.1% at $3,355.46 an ounce, as of 0836 GMT. U.S. gold futures edged 0.1% higher to $3,379.80.

“I think we are seeing the same concerns around trade talks, not much progress and that is adding to uncertainty over where tariffs will land, and that’s driving gold prices right now,” said Nitesh Shah, commodities strategist at WisdomTree.

Donald Trump said on Wednesday that Chinese President Xi Jinping is tough and “extremely hard to make a deal with,” days after the U.S. President accused China of violating an agreement to roll back tariffs and trade restrictions.

Spot silver fell 0.2% to $34.44 an ounce, platinum rose 0.9% to $1,083.22 and palladium lost 0.4% to $1,006.49.

Source – Reuters

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