Gold Holds Near $4,020 as Traders Weigh U.S.-China Trade Truce
Gold prices oscillated this week but avoided a major breakdown, with spot prices dipping 0.9% early Friday before recovering. Market sentiment reflects Xi Jinping's post-meeting warning against 'breaking supply chains'—a temporary pause in U.S.-China tensions, not a resolution. The détente merely delays deeper fractures in technology and supply chains, leaving investors skeptical of lasting peace.
Despite an 8% retreat from October's record high above $4,380, Gold remains a hedge amid instability. Federal Reserve Chair Jerome Powell's tempered rate-cut expectations and ETF outflows have pressured bullion, yet demand persists as a safeguard against volatility.