Gold Prices Hold Firm On Weak Dollar

New York (Feb 13)  Gold prices held steady on Wednesday and the dollar weakened as investors looked for progress in US-China trade talks.

Both spot gold and US gold futures were marginally higher at USD1,311.01 per ounce and USD1,314.15 per ounce, respectively.

US and Chinese negotiators will resume their final trade talks on Thursday in the face of a looming March 1 deadline set for reaching a trade pact.

US tariffs on USD200 billion of Chinese imports are scheduled to increase from 10 to 25% if a deal is not struck before then.

Risk sentiment improved somewhat after US President Donald Trump indicated he could extend the deadline for raising tariffs on China, if the two sides are near an agreement.

Also, investors were heartened by a tentative congressional spending deal to avoid another partial federal government shutdown in the US.

AllianceNews

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