Gold is on the rise as the dollar slides and the US and China talk over

File Reuters

UNITED STATES (VOP TODAY NEWS) — Gold prices rose on Thursday as the dollar approached a week low of the previous session as investors looked to make progress in US-China trade negotiations.

At 0756 GMT, the spot price of gold was up 0.2 percent at $ 1292.16 an ounce. US gold futures were up 0.1 percent at $ 1296.80 an ounce.

“One of the key issues will be China-US trade negotiations,” said Michael McCarthy, chief market analyst at SMC Markets. There is great optimism about the idea that we will see a peaceful solution and agreement of some sort very soon. ”

The dollar index is close to a one-week low in the previous session after data showed US service activity fell to its lowest level in more than 19 months in March and private sector employment growth was lower than expected.

On other precious metals, platinum rose 0.7 percent in spot trade to $ 880.76 an ounce, having earlier hit its highest since mid-June at $ 883.49 an ounce.

The metal jumped 3.4 percent in the previous session, the biggest increase in more than two years.

Palladium rose 0.5 percent to $ 1412.30 while silver was unchanged at $ 15.13.

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