U.S. dollar down 0.6%
US economic woes linger despite China trade truce – poll
Palladium and platinum trade above $1,000/oz mark
Updates prices for market close
By Sarah Qureshi
May 21 (Reuters) - Gold prices rose for a third straight session on Wednesday and hit a one-week high, helped by a softer dollar and safe-haven demand amid economic and geopolitical uncertainty.
Spot gold XAU= was up 0.7% at $3,312.77 an ounce, as of 1355 ET (1755 GMT). U.S. gold futures GCcv1 settled 0.9% higher at $3,313.50.
The U.S. dollar .DXY fell 0.6% against a range of other currencies, making gold less expensive to buy for overseas currency holders. USD/
Wall Street's main indexes slipped and government bond yields rose, as investors closely watched a pivotal debate over U.S. President Donald Trump's tax-cut bill that has fanned concerns about the country's growing debt.
"We are kind of paused here in mid-range between the high and recent low, waiting for a signal of more trade and tariff deals," said Daniel Pavilonis, senior market strategist at RJO Futures.
The outlook for the U.S. economy remains weak despite a temporary cooling of the U.S.-China trade war, a Reuters poll of economists showed.
Elsewhere, CNN reported on Tuesday, citing multiple sources, that new intelligence indicates Israel is preparing to strike Iranian nuclear facilities, even as Trump's administration is in talks with Iran over its uranium enrichment program.
Gold is known as a safe investment amid economic and geopolitical turmoil. Bullion prices had hit a record high of $3,500.05 last month.
"We expect gold's recent price dip will stimulate investment buying, as macroeconomic and geopolitical uncertainty linger," said ANZ in a note.
Silver XAG= rose 0.8% to $33.32 an ounce.
Platinum XPT= was up 1.4% at $1,068.16 after hitting its highest since May 2024 earlier. Palladium added 0.8% to $1,021.40, an over six-month peak.
China imported its highest amount of platinum in a year last month amid already dwindling stocks, suggesting there could be a shortage of supply, while palladium surged due to easing demand concerns, said Fawad Razaqzada, market analyst at City Index and FOREX.com.
(Reporting by Sarah Qureshi in Bengaluru; Editing by Leroy Leo)
((Sarahs.qureshi@thomsonreuters.com))
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。