Gold rose on Tuesday, with prices finding support after posting two consecutive sessions of losses. Traders eyed the potential for a U.S.-China trade deal and awaited the outcome of the Federal Reserve's two-day policy meeting, which ends Wednesday.
February gold lost $3.20, or 0.2%, to settle at $1,468.10 an ounce.
Gold futures settled higher on Wednesday, then inched lower in electronic trading after the Federal Reserve held a key U.S. interest rate steady at a range of 1.5% to 1.75%, as expected.
Following the Fed news, which came after gold futures settled, February gold was at $1,473.10 an ounce in electronic trading. It had ended the session up $6.90, or 0.5%, at $1,475 an ounce.
Oil prices inched up on Tuesday as OPEC™s deal with associated producers last week to deepen output cuts in 2020 continued to provide a floor for prices, but U.S.-China trade tensions clouded the demand outlook.
Brent crude was up 7 cents to $64.32 a barrel, and West Texas Intermediate oil settled up 22 cents at $59.24 a barrel.
The benchmarks fell 0.2% and 0.3% respectively on Monday.
Last week, the Organization of the Petroleum Exporting Countries and associated producers like Russia...
Gold prices rose again on Tuesday as fears spread that the U.S. and China won™t sign an interim trade deal before the next round of U.S. import tariffs kicks in on Sunday.
Commerce Secretary Wilbur Ross, who already said last week that it would be better to postpone a trade deal with China until after next year™s election, told Fox Business News that it was more important to get a good deal than to get a quick one.
Markets have taken the near-complete silence from Beijing and Washington...
The pound came under pressure early Wednesday after a fresh YouGov poll predicted a slimmer-than-expected lead for Prime Minister Boris Johnson™s Conservative Party in a General Election that™s now less than 24 hours away.
Sterling slipped 0.3% to $1.3124 from a level of $1.3155 seen late Tuesday in North American trading. The FTSE 100 was up 0.4% in early action, benefiting from a weaker pound as many multinational companies listed on the index earn the bulk of their revenue outside the...