Gold prices stabilized after losing about 2% during the previous two sessions amid the hope that a new round of trade between the United States and China could reduce the tensions between the two largest economies in the world. The precious metal traded above the $ 3,306 level, after falling on Friday with the issuance of better US work data than expected, which reduced some concerns about the slowdown in the US economy. Large negotiators of Washington and Beijing will hold a new round of talks in London on Monday, with a special focus on China’s dominance in the production of rare earthminerals. The US bonds are expected to be expected much; Investors will also monitor the results of the US Treasury auction on Thursday, after global concerns about US debt have converted the auction that is supposed to be a routine, in an upcoming event, while poor results may be in the interest of the precious metal. It could be more momentum at the Gulf of Gold Climbing, which exceeded 25% this year, with investors’ appetite for safe ports in the light of an economic and geopolitical environment raising the unrest. Central banks also contributed to the promotion of demand, as the Chinese People’s Bank expanded its gold purchase series for the seventh month in May, according to the data released during the weekend. Immediate gold fell 0.1% to $ 3,306.48 per gram, at 8:28 pm in Singapore. The immediate “Bloomberg” index resolved for the dollar. While Silver retained its stability, while both Phaladium and Platinum recorded a slight decrease.
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