2019.11.1310:12:00UTC+00Gold Prices Inch Higher On Trade Worries, HK Unrest

Gold prices rose slightly on Wednesday as anti-government protests in Hong Kong entered a third consecutive day of violent unrest and new worries around a U.S.-China trade agreement emerged. A firmer dollar limited upside for bullion.

Spot gold rose half a percent to $1,464.02 per ounce, while U.S. gold futures were up 0.75 percent at $1,464.55 per ounce.

After pro-democracy protesters stepped up a "blossom everywhere" campaign of roadblocks and vandalism across Hong Kong, the city's security Chief John Lee cautioned that "unthinkable" consequences may come if violence continued.

Investor optimism over a potential U.S.-China trade deal waned after U.S. President Donald Trump said a significant phase one trade deal with China "could happen soon" but stressed that he would only accept an agreement that is good for U.S. companies and workers.

He didn't offer clarity on a rollback of import tariffs and threatened further increases in tariffs if a deal is not reached.

Equity markets in Asia and Europe fell amid lingering uncertainty on whether, and when, the United States and China will agree a long-awaited deal to end their bitter trade dispute.

U.S. stock futures also point to a weak open ahead of a key testimony by Fed Chair Powell before Congress.