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Gold price retreats sharply from two-week top amid US-China trade talks optimism
Gold price (XAU/USD) attracts heavy selling during the Asian session on Wednesday and snaps a two-day winning streak to a two-week high, around the $3,434-3,435 region touched the previous day. The global risk sentiment gets a strong boost following the announcement of the US-China trade talks in Switzerland this week. This, in turn, undermines the safe-haven bullion, which, along with a modest US Dollar (USD) uptick, contributes to the intraday downfall. Meanwhile, the US-China trade negotiations are likely to be complex, and reaching a comprehensive trade deal is expected to be time-consuming. This could keep a lid ... (full story)
