Lagos — Gold prices edged slightly higher on Friday but could stabilize as investors await the outcome of this weekend’s US-China trade talks. Despite hopes for progress, lingering uncertainty could support safe-haven demand. The announcement of a US-UK trade agreement eased concerns over global trade tensions to a certain extent, but the focus remains on negotiations between Washington and Beijing.
Geopolitical risks continue to underpin the precious metal’s strength. Tensions could remain high in Eastern Europe, the Middle East and the India-Pakistan border, collectively sustaining the metal’s safe-haven appeal.
However, the upward momentum could face resistance as Fed Chair Jerome Powell’s recent comments reinforced the central bank’s cautious stance regarding monetary policy.
Looking ahead, investor attention will turn to next week’s US inflation data, including CPI and PPI and trade developments.
*Christopher Tahir – Senior Market Strategist at Exness
