Gold prices were little changed on Tuesday as differing views of Chinese and U.S. officials on the interim trade deal announced last week kept investors on the sidelines.
* The “Phase One” trade deal has been “absolutely completed”, a top White House adviser said on Monday, adding that U.S. exports to China will double under the agreement.
However, Beijing remained cautious ahead of the signing of the agreement.
* Under the agreement, Washington will reduce some tariffs on Chinese imports in exchange for Chinese purchases of agricultural, manufactured and energy products increasing by about $200 billion over the next two years.
* Asian shares climbed but a lack of detail about the preliminary deal capped gains.
* Gold, considered a safe investment in times of political and economic uncertainty, has gained about 15% this year, mainly driven by the 17-month-long tariff war and its impact on the global economy.
* Gold miners Endeavour and Centamin have agreed to assess the feasibility of a merger, following a weekend meeting between top managers of the two companies.
* Elsewhere, palladium rose 0.2% to $1,981.54 an ounce. Prices hit an all-time peak of $1,991.38 in the previous session.
* Silver rose 0.1% to $17.04 per ounce, while platinum was unchanged at $928.93.
Courtesy - Reuters