Gold made another move higher overnight, recouping some of last week’s sharp losses. The yellow metal climbed to $4,267 per ounce before settling around $4,252 by 10:00 GMT this morning.
The rebound comes as markets digest conciliatory signals from US officials over the trade conflict with China. President Donald Trump called high tariffs “not sustainable” and confirmed a meeting with Chinese President Xi Jinping in South Korea in two weeks. Treasury Secretary Scott Bessent added that working-level talks are scheduled for this week.
While these comments boosted broader financial markets and eased some safe-haven demand, gold found support from ongoing uncertainties. The US government shutdown, concerns over slowing growth, and bets on further Federal Reserve rate cuts underpin bullion.
Geopolitical tension also remains in focus. Weekend clashes between Israel and Hamas raised market caution, though officials confirmed the ceasefire held. Meanwhile, President Trump met Ukrainian President Zelensky, reportedly urging territorial concessions and declining further military aid, keeping geopolitical risk in play.
Gold’s rebound reflects persistent buying, with investors balancing profit-taking and safe-haven demand near record levels.