Negotiators representing Democratic President Joe Biden and Republican House Speaker Kevin McCarthy held what both sides described as productive talks on Wednesday, trying to reach an agreement to raise the US debt ceiling from 31.4 trillions of dollars and avoid a catastrophic default.
Investors await estimates of US gross domestic product and US jobless claims, due out at 12:30 GMT, looking for indications of the economy’s strength.
The price change
As of 03:00 GMT, spot gold stood at $1957.49 per ounce. US gold futures fell 0.3% to $1,958.60.
The dollar index remained close to the high level recorded in the previous session, which led to a drag on gold prices.
The yellow metal was trying to recover from earlier selloffs, but the rising dollar and US Treasury yields continue to dampen the upward price trend, which seems to outweigh the impact of demand for stocks havens given the US debt ceiling crisis, said Ip John Rong, market analyst at VI. g.
As for other precious metals, spot silver fell 0.3% to $23.02 an ounce, palladium fell 0.1% to $1,413.64, while platinum stabilized. at $1023.19.
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