Gold Price Holds Steady At One-week High

August 22, 2018

New York (Aug 22)  Gold prices inched higher to trade near one-week highs on Wednesday as investors awaited the release of minutes from the Federal Reserve's August meeting today and the annual economic symposium at Jackson Hole, Wyoming on Friday for clues on when rates might change again.

Investors also keep an eye on the US-China trade talks, political developments in the U.S and the latest Brexit developments as the EU and UK enter the final stages of talks over foreign policy, security and economic relationship.

Spot gold was up 0.36% at USD1,196.87 an ounce after having touched $1,197.98, its highest since Aug. 14, earlier in the day. US gold futures were up 0.32% at USD1,203.70 an ounce.

A breakthrough deal from the lower level trade talks between the US and China remains very low after US President Donald Trump said he didn't expect much progress.


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