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The yellow metal has been able to post a small recovery this week on the back of a softening in risk appetite. This has seen equities markets retracing from recent highs.
Traders were a little dismayed earlier in the week as Trump’s speech at the Economic Club of New York failed to offer any new insights into ongoing US-China trade talks.
There has been speculation that the two sides will agree on a deal at the APEC meeting in Chile this weekend. However, Trump commented only to say that his team was working hard. He gave no indication as to whether a deal would be signed in the coming days. For now, traders remaining optimistic, though cautiously so. This can be seen in the safe-haven flows supporting gold.
In the middle of the week, the latest US inflation data showed CPI rising at its fastest pace in seven months over October with a 0.4% month on month gain. This data follows a stronger than expected ISM non-manufacturing reading for October and is seeing a further reduction in...
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