Gold at two-week high on trade deal hope
Gold prices rose to their strongest level in more than two weeks yesterday as the US dollar weakened on hopes the United States and China are nearing a trade deal, while palladium hit a record high. Spot gold had gained 0.1% to US$1 322.41 per ounce as of 0747 GMT. The metal touched US$1 325.30 earlier, just below a 9-month peak of US$1 326.30 an ounce marked on January 31. US gold futures rose 0.3% to US$1 326.1 an ounce. The United States and China will resume trade talks this week in Washington with time running short to ease their bruising trade war, but US president Donald Trump repeated on Friday that he may extend a March 1 deadline for a deal and keep tariffs on Chinese goods from rising. Spot gold prices have risen about 3.3% so far this year on hopes that the world's two largest economies will hammer out a truce and on expectations the US Federal Reserve will pause its cycle of interest rate hikes. Photo Nampa/Reuters
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