Gold ticks up, EU-US trade optimism restrict upside
Gold price (XAU/USD) trades higher to near $3,310 during North American trading hours on Wednesday, following an over 1% sell-off the previous day.
The yellow metal rises despite investors becoming increasingly confident that the United States (US) and the European Union (EU) will secure a trade deal soon.
On Tuesday, US President Donald Trump expressed confidence in a post on Truth.Social that the EU is making swift efforts to come to the table for trade negotiations with Washington.
"I was extremely satisfied with the 50% Tariff allotment on the European Union, especially since they were “slow walking". I have just been informed that the EU has called to quickly establish meeting dates. This is a positive event, and I hope that they will," Trump wrote.
Source: FXstreet