Gold prices inched higher today (Friday) as investors returned to the market following a sharp drop in the previous session, with attention now turning to upcoming trade negotiations between the United States and China scheduled for early next week.
As of 00:24 GMT, spot gold had risen by 0.1% to $3,309.39 per ounce, while U.S. gold futures climbed 0.3% to $3,314.20, according to news agencies.
The modest rebound follows a nearly 2% decline in spot gold on Thursday, when prices fell to $3,288.39 after U.S. President Donald Trump and British Prime Minister Keir Starmer announced a new trade agreement.
The deal maintains a 10% U.S. tariff on British imports, while the UK agreed to reduce its customs duties from 5.1% to 1.8%, improving access for American products.
Looking ahead, markets are focused on a high-level meeting between U.S. Treasury Secretary Scott Besant, U.S. Trade Representative Jameson Greer, and Chinese Vice Premier He Lifeng, set to take place on Saturday in Switzerland. The outcome of these talks could influence global trade sentiment and, by extension, investor demand for safe-haven assets like gold.
Meanwhile, several Federal Reserve officials are expected to speak later today, offering insights into the economic outlook and the future path of U.S. monetary policy.
On Wednesday, the Fed held interest rates steady but cautioned about mounting inflationary pressures and the potential for rising unemployment.
Among other precious metals, spot silver slipped 0.4% to $32.37 an ounce, platinum gained 0.5% to $980.62, and palladium fell 0.3% to $973.04.
