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Gold price stabilises ahead of weekend US-China trade talks

Gold price stabilises ahead of weekend’s US-China trade talks​ as investors are getting jittery and buy the precious metal as a hedge.

Gold Source: Adobe images

Written by

Axel Rudolph

Axel Rudolph

Market Analyst

Article publication date:

​​​Gold price tries to stabilise 

​The spot gold price's over 3% drop from this week's $3,435.00 per troy ounce high amid hopes of US trade agreements being made, like the one with the UK on Thursday, is being followed by a recovery in the precious metal ahead of this weekend's planned US-China trade talks which slightly concern investors and weigh on sentiment. 

​While Friday's intraday low at $3,275.00 underpins, this week's high at $3,435.00 may well be revisited. 

​Support below $3,275.00 and the 23-to-28 April lows can be spotted at $3,268.00-to-$3,260.00 ahead of last week's low at $3,202.00.

Spot gold chart Source: TradingView

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