Gold Prices Tied Up in Trump-Xi Summit Limbo

Gold prices have been stuck in a tight range this week, unable to gain momentum as traders wait for the outcome of the highly anticipated meeting between US President Donald Trump and Chinese counterpart Xi Jinping.

The metal has struggled near $4,350 in Asia on Wednesday, retreating from its previous rebound from sub-$4,300 levels.

Traders are hesitant to place fresh bets ahead of the summit, keeping gold prices confined within a narrow range.

The ongoing tug-of-war between bullish and bearish forces has left gold's near-term direction uncertain, with some market participants expecting a potential impact on broad risk sentiment, the US dollar, and gold prices following the meeting.