Gold prices inched higher to trade near one-week highs on Wednesday as investors awaited the release of minutes from the Federal Reserve’s August meeting today and the annual economic symposium at Jackson Hole, Wyoming on Friday for clues on when rates might change again.
Investors also keep an eye on the U.S.-China trade talks, political developments in the U.S and the latest Brexit developments as the EU and U.K. enter the final stages of talks over foreign policy, security and economic relationship.
Spot gold was up 0.36 percent at $1,196.87 an ounce after having touched
$1,197.98, its highest since Aug. 14, earlier in the day. U.S. gold futures were up 0.32 percent at $1,203.70 an ounce.
A breakthrough deal from the lower level trade talks between the U.S. and China remains very low after U.S. President Donald Trump said he didn’t expect much progress.