Gold Prices Climb as Stable US-China Ties Gain Importance in Global Trade

International gold and silver prices closed higher on Friday.

On the New York Mercantile Exchange, gold futures for December delivery rose 0.54 percent to settle at $4,321.20 per ounce, while silver futures for December delivery gained 1.25 percent to close at $64.801 per ounce.

The relationship between China and the United States is a crucial factor in global trade and finance. According to Sean Stein, President of the U.S.-China Business Council, a sound and stable relationship between the two countries provides predictable prospects for cooperation with the major powers.

'A lot of clarity for countries everywhere' would be provided by a stable US-China relationship, said Stein in an interview with China Media Group. He pointed out that the US has been overstretching the concept of national security and called for a more reasonable definition.