Home > Business > Gold prices jumped to a two-week high as trade fears subside

Gold prices jumped to a two-week high as trade fears subside

Gold prices traded higher on Thursday amid reports that the US is in the early stages of proposing a new round of trade talks with China in the near future.

Steven Mnuchin, the US Treasury Secretary has reportedly sent an invitation for talks to senior Chinese officials, proposing a meeting in the next few weeks.

A fairly steady dollar is restricting the yellow metal’s upside.

Gold futures for December are up USD0.30, or 0.03%, at 1,211.20 an ounce. On Wednesday, gold futures gained USD8.70, or 0.7%, a they settled at USD1,210.90 an ounce, the best settlement price in two weeks.

silver futures were 3.7 cents, or 0.3%, higher at $14.33 a troy ounce.

Platinum was up 1.4% at $811.20, while palladium gained 0.7% to $971.70.

December copper inched up 2.5 cents, or 0.9%, to $2.702 a pound.

The dollar index is currently up 0.06 points or 0.06%, at 94.88.

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Source:: Businessamlive