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Gold Prices Rise Despite Renewed Trade Optimism; Still Trades Near Four-Month Lows

Gold prices rose on Wednesday in Asia despite renewed trade optimism. Despite today’s gain, the safe-haven metal still trades near four-month lows.

Gold futures traded on the Comex division of the New York Mercantile Exchange were up 0.2% to $1,297.45 by 12:57 AM ET (04:57 GMT).

Global stock markets received some support this week amid positive U.S. and China factory activity surveys. Reports that officials from China and the U.S. have resolved “90% of the outstanding issues” and are now closer to agreeing a trade deal were also cited a tailwind for equities. Negotiations between the two sides continue as Chinese Vice Premier Liu He arrives Washington to meet with high-level U.S. officials for more talks.

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