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Gold Hits 8-Month Highs Amid U.S.-China Trade Worries; FOMC Decision in Focus

Gold prices traded higher on Wednesday in Asia and hit an eight-month high ahead of a highly-anticipated meeting between Chinese and U.S. officials later in the day.

Gold futures┬ácontract was up $4.40, or 0.3%, at $1,313.30 on the New York Mercantile Exchange’s Comex division by 1:30 AM ET (06:30 GMT), the highest level since May 14.

Trade discussions between the U.S. and China are likely to be the major directional driver later this week. China’s Vice Premier Liu He is set to begin trade talks with U.S. officials, including President Donald Trump, in Washington today.

 

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