Gold Prices Are Trading Above 4,000 Dollars.

Current Status of Gold Prices

Gold continues to trade above $4,000 per ounce, maintaining its gains from the previous day.

Trade Disputes and Market Reactions

Investors are assessing trade agreements amid ongoing long-term competitive concerns between the world's two largest economies, the USA and China. In particular, talks between US President Donald Trump and Chinese President Xi Jinping have not fully alleviated current uncertainties.

Recent Price Movements

On Thursday, gold gained 2.4%, ending a four-day streak of declines. On Friday, it showed a slight increase. Nick Twidale, chief market analyst at AT Global Markets, noted that "uncertainty in the markets has increased again following the US-China trade truce," highlighting that this situation could create opportunities for gold purchases for the remainder of the year.

Decline After the Rise

Since reaching a peak of $4,380 per ounce on October 20, gold has declined by approximately 10%. However, it may have found support recently. Nonetheless, as of this week, gold continues to face its second consecutive weekly loss.

Fed and ETF Exits

The decrease in expectations for interest rate cuts by the US Federal Reserve is one of the main factors contributing to the decline in gold prices. Fed Chairman Jerome Powell stated that hopes for a rate cut in December should be limited. Additionally, outflows from gold-backed ETFs have nullified elements supporting the rally during this period.

Market Observations

According to recent data, spot gold was trading at around $4,016.21 per ounce with a 0.2% decline at approximately 9:55 AM Singapore time. The Bloomberg Dollar Spot Index lost 0.1% after increasing by 0.4% in the previous session. Silver continued its gain streak with a 0.4% increase, while platinum and palladium prices also showed an upward trend.