Lagos — Gold prices slipped on Wednesday as reports of upcoming trade talks between US and Chinese officials lifted market sentiment and reduced safe-haven demand. The prospect of negotiations between Washington and Beijing has fueled optimism, even as broader trade uncertainties persist.
Investor focus is also directed at the Federal Reserve’s policy decision later today, where Chair Jerome Powell is expected to provide insights into the central bank’s outlook. While markets broadly anticipate no change in interest rates, Powell’s comments will be closely monitored for any indications of future monetary policy adjustments. A cautious stance could support US Treasury yields and weigh on gold prices, while a dovish tone might enhance the metal’s appeal.
On the geopolitical front, global tensions remain elevated in Eastern Europe and the Middle East, while hostilities between India and Pakistan have resurfaced, supporting safe-haven demand for gold.
*Fadi Al Kurdi founder CEO FFA Kings
