Gold Prices Unchanged as Traders Await Further Trade News

© Reuters.  © Reuters. – were largely unchanged on Wednesday in Asia as traders remain cautious amid the latest news on the Sino-U.S. trade front.

for delivery, traded on the Comex division of the , edged up 0.02% to $1,273.45 per ounce at 1:10 AM ET (05:10 GMT).

“From a technical point of view, a first positive signal (for gold) would be a recovery to $1,290, while a fall below the recent low of $1,266 could open space for a further decline,” said ActivTrades analyst Carlo Alberto De Casa.

Bullion reached above the $1,300 mark and hit a one-month peak last Tuesday after countered higher U.S. tariffs on its goods by announcing duty hikes of its own on American merchandise.

Article continues below Advertisement...

In times of both economic and political troubles, investors often seek protection from the safe-haven gold.

Sino-U.S. trade tension eased somewhat after the U.S. temporarily lifted curbs on China’s Huawei Technologies, but markets remained on edge as Chinese President Xi Jinping hinted at a domestic tour on Tuesday that the trade war with the U.S. would not end in the near future.

The , which usually moves in directions opposite to the yellow metal, was largely unchanged at 97.890.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, ) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the , it is one of the riskiest investment forms possible.