Gold prices dip.
Gold prices fell in Asian trade on Tuesday, pressured by improving risk appetite and waning haven demand as investors awaited a positive conclusion to ongoing U.S.-China trade talks.
The yellow metal clocked strong gains in recent weeks as heightened uncertainty over the U.S. economy and President Donald Trump’s trade policies drove up haven demand.
Increased geopolitical tensions, especially between Russia and Ukraine, also fuelled haven demand, as did a string of weak economic readings from China.
But this trend reversed on Monday, as Washington and Beijing kicked off high-level talks in London. Improving risk appetite also largely offset concerns over escalating violence in Los Angeles, California, as Trump deployed the military against protests linked to his immigration crackdown.
Spot gold fell 0.8% to $3,308.32 an ounce, while gold futures for August fell 0.8% to $3,327.75/oz by 00:23 ET (04:23 GMT).
Other precious metals also retreated after clocking strong gains in the past week. Platinum futures fell 0.1% to $1,224.60/oz, retreating from a four-year high.
Silver futures fell 0.4% to $36.660/oz but remained in sight of a recent 13-year high.
Dollar climb as investors hope for US-China trade talk.
Global stocks rose and the dollar edged higher on Tuesday as trade talks between the United States and China were set to extend to a second day, with tentative signs that tensions between the world’s two largest economies could be easing.
Following Asia’s lead, EUROSTOXX 50 futures and FTSE futures both edged up roughly 0.1% each, while Nasdaq and S&P 500 futures in the U.S. were also gearing up for a higher open.
U.S. President Donald Trump put a positive spin on the talks, which wrapped up for the night on Monday and were set to resume on Tuesday.
Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer were set to meet for the second day with their Chinese counterparts.
Bitcoin price today jumps to $109.4k.
Bitcoin saw sharp gains on Tuesday as investors cheered progress in ongoing U.S.-China trade talks, while they cautiously awaited a key U.S. inflation reading due later this week.
The world’s largest cryptocurrency jumped 3.8% to $109,404.20 as of 01:39 ET (05:39 GMT).
The token saw range-bound trading in recent sessions, but hopes of a trade deal between the world’s two largest economies boosted risk appetite.
Bitcoin surged to a record high of $112,000 last month, driven by optimism over growing legislative backing and rising institutional adoption. However, concerns over global trade tensions prompted a pullback, with the cryptocurrency subsequently entering a period of range-bound trading.
US-China trade talks progress; boosts risk appetite
Senior U.S. officials, including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, met Chinese Vice Premier He Lifeng in London to discuss tariff rollbacks, export controls, and broader bilateral trade concerns.
The talks, set to extend into a second day, follow a preliminary truce struck in Geneva in May.
A constructive outcome from the talks could signal improved geopolitical stability and bolster appetite for alternative assets.
Still, many traders remained cautious ahead of Wednesday’s US consumer price index (CPI) report, which could influence dollar movement and interest-rate expectations.
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