Key Points:
- Gold is nearly $3,300, away from record highs
- Trump says xi called, China says yes
- Traders are waiting for clarity before the next gold move
Trump said he began trade negotiations with Xi Jinping after the Chinese leaders squealed him. However, Beijing said that didn’t happen. What now?
🥇 A gold stall below record high
- Gold price Xauusd It remained stuck under the record high early on Monday as traders opposed signals from Washington and Beijing squeezed on the state of US-China trade talks. Markets, which remain sensitive to all the language of tariffs, find themselves trapped between hope and skepticism. That prevents gold from making a critical move.
- The price of yellow metal this morning was down about $3,300, or about 5.5%, near the flatline, which fell about 5.5% from the ultimate peak of $3,500 on April 22. What is next for this brewing situation?
📞 Trump’s call claim meets Beijing’s denial
- President Trump told Time magazine that Chinese President Xi Jinping had recently called him, suggesting that negotiations have returned to the table after weeks of tariff escalation. Trump did not say when the phone ran out or what was discussed exactly, but he emphasized, “He’s called, and I don’t think it’s a sign of weakness on his behalf.”
- However, Beijing quickly challenged the story. A spokesman for the Chinese Commerce Department clearly stated, “There are currently no economic and trade negotiations between China and the United States.” Quick Catch-Up: The US is leviing tariffs on China at 145%, but China has fought back against taxes of up to 125%.
🧩 Uncertainty keeps money in the tug of war
- For gold, uncertainty is both a blessing and a curse. On the one hand, lingering questions about the stability of US-China relations will help to continue to increase the demand for safe, at-home assets. On the other hand, all the tips of possible melting – even those wrapped in political spins are sufficient to cool the lash to the risk-off device.
- Last week’s record-breaking rally led to the best session ever Smashed by Trump It softens his tone regarding tariffs and Federal Reserve Chairman Jay Powell. Currently, there is no clear resolution on trade negotiations, so traders are hesitant to push gold prices into new territory without a strong reason.
