Questions about the longevity and future prospects of a U.S.-China trade deal gave gold a boost, with the front-month futures contract closing up 0.6% to $3,240.30 a troy ounce.
“Despite the de-escalation in tensions between the U.S. and China, questions remain regarding the longevity of the agreement, which could maintain gold’s attractiveness as a safe-haven asset,” Quasar Elizundia of Pepperstone says in a note. “While the tariff reductions have temporarily boosted market sentiment, uncertainties about the deal could continue to weigh on investor confidence.”
