Gold prices rose today amid the dollar’s slide against most major currencies and market uncertainty about US-China trade negotiations.
A Federal Reserve report said the central bank expects the US economy to slow down this year due to several factors, mainly trade tensions and volatility in financial markets.
The central bank stressed that it adopted a patience approach to raise the interest rate due to uncertainty about the economic data issued.
US President Donald Trump will meet with senior Chinese officials to discuss trade relations and the possibility of reaching an agreement.
Despite positive statements over the past days, doubts remain about the negotiations between Washington and Beijing because their results have not yet been announced.
The dollar index fell by 0.1% to 96.4 points by 18:01 GMT, the day’s highest at 96.7 and the lowest at 96.4.
Gold prices rose April delivery by 18:00 GMT by 0.5% to $ 1335.1 an ounce, the precious metal hit a high of $ 1335.6 and a low of $ 1328.8.