LONDON: Gold prices gained on Wednesday on lack of clarity on the US-China trade negotiations, keeping markets wary about the tariff war’s toll on the health of the global economy.

Spot gold had risen 0.6 per cent to $1,465.18 per ounce by 1251 GMT. US gold futures were 0.9pc higher at $1,466.10.

US President Donald Trump said a trade deal was “close” but gave no new details on when or where an agreement would be signed, disappointing investors in what was billed as a major speech on his administration’s economic policies.

“Anything around (US-China) trade talks are going to impact global sentiment... Protests in Hong Kong present major geopolitical risks, something that is going to continue fuelling risk aversion,” said FXTM analyst Lukman Otunuga.

Among other precious metals, palladium jumped 1.8pc to $1,730.17 an ounce, while silver gained 1.2pc to $16.98. Platinum was up 0.8pc to $875.26 an ounce and set to end four straight sessions of declines.

Published in Dawn, November 14th, 2019