Gold Prices Near Flat as Traders Seek Clarity on Trade Talks Development

Investing.com - Gold prices traded near flat on Thursday in Asia following reports of possible delay in signing of U.S.-China partial trade deal.

U.S. Gold Futures for December delivery last traded at $1,492.45 by 1:12 AM ET (05:12 GMT), down 0.02%.

Citing an unnamed senior official, Reuters said the signing might not happen this month as previously expected as discussions continue over terms and value.

Reuters reported earlier this week that China has been pushing the U.S. to remove more tariffs on Chinese goods as part of the partial trade deal.

Gold prices have been choppy this week amid conflicting signs on the Sino-U.S. trade front. Worries of intensifying tensions between the two sides have sent prices of gold up by 16% so far this year.

Monetary easing policies from the U.S. Federal Reserve were also cited as tailwind for the yellow metal. Last month, the Fed slashed rates for the third time this year, although it also signaled that there may be no more further reductions in the short future unless the economy takes a turn for the worse.

Chicago Fed President Charlie Evans told reporters overnight that the U.S. economy is in a good place. Still, he said he would be looking at inflation in deciding what the future stance of monetary policy should be.

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