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Gold edges higher

Gold prices inched up yesterday as the dollar eased and a rally in equities paused, while investors kept a close watch on Sino-US trade talks.

Spot gold gained 0,2 percent to $1,291.90 per ounce by 0100 GMT.

US gold futures were up 0.1 percent at $1,296.30 an ounce.

Asian shares paused near an eight-month peak as investors awaited developments on trade talks between the United States and China, who appear closer to signing a deal.

The dollar was down about 0,1 percent against key rivals, hovering close to its lowest level in a week posted in the previous session.

Trade talks between the United States and China made “good headway” last week in Beijing and the two sides aim to bridge differences during talks that could extend beyond three days this week, White House economic adviser Larry Kudlow said.

An escalation of the US-China trade war would drive manufacturing away from both countries and likely cause job losses, but would not change their total trade balances, an International Monetary Fund (IMF) report showed on Wednesday.

US services sector activity hit a more than 19-month low in March and private payrolls grew less than expected, underscoring a loss of momentum in the economy that supports the Federal Reserve’s move to suspend interest rate hikes this year. — Reuters.

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