Gold stabilized in early trading today as the dollar’s decline offset the impact of growing appetite for high-risk assets following reports of a breakthrough in US-China trade negotiations, while palladium recorded a new peak.

The spot price of gold was stable at $ 1469.90 an ounce, but was up about 0.7% since the start of the week. US gold futures rose 0.1 percent to $ 1474.40.

“The market is still cautious … Until we get some additional information regarding what has been agreed upon, investors will not risk creating big positions in the gold market,” said ANZ analyst Daniel Haynes.

And sources said on Thursday that US negotiators offer to reduce fees based on Chinese goods by up to 50% and to suspend the imposition of new fees, which will come into effect on Sunday.

Palladium rose 2% in spot trading to $ 1977.98 an ounce, after hitting a record high of $ 1979.50.

With a supply shortage, the metal rose about five percent this week, mainly supported by mine closures in the main product South Africa.

Platinum fell 0.7% to $ 936.91 an ounce, but it is in its best week since the end of August.

Silver fell 0.1% to $ 16.92, but the metal is heading for its best weekly gain since the end of October.

News Source: https://www.alsumaria.tv/