Gold prices climb amid US trade talks and future Fed decisions

Gold prices rose 0.7% on Monday, supported by a weaker US dollar and investor sentiment surrounding Donald Trump's policies and the upcoming Federal Reserve (Fed) meeting. 

The greenback dipped 0.3% against major currencies, making the bullion more attractive to foreign traders.

Market attention is now shifting to the Fed's interest rate decision and comments from central bank officials.

After the US Labor Department released a report showing stronger-than-expected employment growth in April, traders are pricing in an 80 basis point rate cut from the regulator by year-end, starting in July.

Meanwhile, Trump reiterated that he has no plans to fire Fed Chairman Jerome Powell before his term ends in May 2026, although he continues to advocate for monetary easing.

According to the President, America is negotiating new trade agreements with several countries, including China. Trump emphasized that securing a "fair deal" remains Washington's top priority in its relationship with Beijing. 

In this context, gold is typically seen as a hedge against inflation and global uncertainty, as reported by Reuters.