06.11.201909:46:00UTC+00Gold Prices Rise As Investors Await Clarity On Trade Talks

Gold prices inched higher on Wednesday and the dollar held its ground against other major currencies, as investors awaited further clarity on U.S.-China trade talks.

Spot gold rose 0.35 percent to $1,488.50 per ounce, after falling over 1 percent on Tuesday due to a stronger dollar and higher bond yields. U.S. gold futures were up 0.4 percent at $1,489.75 per ounce.

Investors remain hopeful for a resolution to the current U.S.-China trade war, with U.S. President Donald Trump and Chinese President Xi Jinping widely expected to sign phase one of the agreement sometime this month.

The two sides are working to narrow their differences enough to sign a "phase one" trade deal that could allow the U.S. to scrap tariffs on about $156 billion worth of Chinese imports currently set to take effect on December 15.

Both countries are looking for a location to sign the so-called phase one trade deal that would thaw tensions between the two economic powerhouses.