Gold back to session highs on Friday as traders watch upcoming US-China trade meeting closely.
Gold prices moved up by more than 0.5% on Friday, climbing above $3,330. This rise comes as markets react to a weak US-UK trade deal and look ahead to a key meeting between US and Chinese officials this weekend. Gold is gaining as traders look for safety during uncertain times.
Key Points for Gold Price
Gold buying on price dips continues as traders avoid high-risk assets.
Gold rises over 0.5% and moves above $3,330 on Friday.
Markets are unsure about the weak US-UK trade deal’s real impact.
US-China trade talks in Geneva could lead to lower tariffs.
Technical chart shows resistance near $3,336 and $3,384, with support around $3,258 and $3,210.
Market Overview: US-UK Trade Deal Raises Safe-Haven Demand for Gold
A trade deal between the US and UK was signed on Thursday, but analysts called it weak, pushing gold back to session highs as investors turned to safer assets. Although the deal allows faster customs and easier access to the UK market for US goods, it still keeps 10% tariffs.
This limited deal has raised questions ahead of the weekend’s US-China talks in Geneva. China’s trade officials said they want current tariffs removed before deeper discussions can start. The US, on the other hand, seems hopeful but uncertain.
President Trump told people to buy stocks, hinting that positive outcomes could come from the talks. But his comment left markets guessing about what to expect next.
For more updates and expert gold analysis, visit Daily Gold Signal.
Technical View: Gold Price Analysis of Key Support and Resistance Levels
Gold is gaining strength, helped by safe-haven demand and unclear global news. The first key level to watch is $3,336, which acts as resistance. If the price continues to rise, it may hit $3,384 next. A move toward $3,462 is possible, but unlikely today.
On the downside, $3,258 is the first support level. Below that, $3,245 provides stronger support. If gold drops further, $3,210 becomes the next key level to watch.
“Traders still buy gold during dips, even though demand for safe havens has cooled slightly,” says Tim Waterer, Chief Analyst at KCM Trade (Reuters).
Expert Insight and What Could Happen Next
President Trump expects meaningful progress to come from this weekend’s trade talks with China. He said he may reduce tariffs if the discussions go well. Meanwhile, China continues to demand that the US remove its trade duties, Bloomberg reports.
Sources say US officials might suggest lowering tariffs to below 60%, hoping China will do the same. If both sides agree, changes might happen as early as next week. This has kept gold in demand, as investors wait to see what the outcome will be.
Conclusion: Gold Holds Strong on Uncertainty
Gold prices rose again as traders react to a weak US-UK trade deal and upcoming US-China talks. Uncertainty in global trade keeps demand for gold steady. Many traders still see gold as a safe place to invest during unstable times.
Read more updates and detailed gold news in our Daily Gold Update.
FAQs on Gold Price Movement and US-China Trade Talks
1. Why is gold back to session highs today?
Gold is back to session highs due to rising uncertainty over weak global trade deals and upcoming US-China talks.
2. How did the US-UK trade deal affect gold prices?
The limited US-UK trade deal disappointed markets, boosting gold as investors sought safer investments.
3. What are the key support and resistance levels for gold today?
Gold faces resistance at $3,336 and $3,384. Support lies at $3,258, with stronger support at $3,210.
4. What could influence gold prices this weekend?
The US-China trade meeting in Geneva could shift market sentiment depending on tariff reduction outcomes.
5. Is it a good time to invest in gold now?
Experts say buying gold on dips remains popular, especially during trade-related uncertainties and market volatility.
