Gold prices recorded strong performance in the face of the weakness of the US currency

Gold prices rose today, as investors awaited a meeting between US President Donald Trump and Chinese President Xi Jinping, as well as developments regarding the conflict in the Middle East.

Gold in spot transactions increased 0.5 percent to $4,757.59 per ounce by 00:50 GMT.

US gold futures for June delivery also rose 0.8 percent to $4,768.20.

Trump said on Monday that the ceasefire with Iran was “on the verge of collapse,” after Tehran’s response to an American proposal to end the war made clear that the two sides were still far apart on a number of issues.

Markets are also anticipating Trump’s two-day visit to China this week, as he is scheduled to meet with Xi to discuss a wide range of topics including the current conflict in the Middle East.

Investors are also awaiting consumer price index data in the United States, scheduled to be released later today, to assess the path of interest rates at the Federal Reserve (the US central bank).

As for other precious metals, silver rose in spot transactions by 0.2 percent to $86.27 per ounce, while platinum fell by 0.2 percent to $2,127 and palladium by 0.2 percent to $1,506.34.