7 May | Gold

Gold loses ground ahead of US-China trade talks and Fed meeting results

Gold loses ground ahead of US-China trade talks and Fed meeting results

Gold prices fell 0.7% on Wednesday as optimism over potential trade talks between the US and China dampened market interest in safe-haven assets. Investors are also awaiting the results of today's Federal Reserve (Fed) meeting to assess its impact on future bullion dynamics.

American Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer are set to meet with Chinese Vice Premier He Lifeng in Switzerland this weekend. The discussion comes on the heels of the recent tit-for-tat tariffs exchanged between the two nations, which have sparked fears of a possible global recession.

On Tuesday, US President Donald Trump revealed that his administration would review several potential trade deals over the next two weeks and make decisions on each.

Market participants are now closely watching the Federal Open Market Committee (FOMC) session, which is expected to leave current interest rates unchanged. Fed Chairman Jerome Powell's post-meeting remarks are likely to signal the timing of any future policy adjustments.

Reuters reports that interest in gold is being driven by a mix of market risks and anticipated monetary shifts.

Elena Dorokhina MarketCheese
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