Gold prices rose above the important level of $ 1500 an ounce, bringing prices closer to the peak of two weeks on Thursday, as flows seeking safe havens in the yellow metal were boosted by the uncertainty surrounding the signing of the "one-stage" agreement. By 05:13 GMT, gold in online transactions rose 0.3% to $ 1503.02 an ounce. Prices hit their highest levels since November 5th earlier in the session at $ 1503.87. US gold futures rose 0.2% to $ 1507.40 an ounce.
US President Donald Trump said yesterday that there will be a signing ceremony with Chinese President Xi Jinping for the first-stage agreement. Beijing confirmed the news by saying it was in close contact with Washington over the signature.
Long-standing concerns about growth persisted, with data on Monday showing that new orders for US-manufactured capital goods rose barely in November, while shipments declined, indicating that corporate investment will likely continue to pressure the economy in the fourth quarter of the year.
And economic indicators from the United States are closely followed to obtain indicators on the monetary path of the US central bank in the future. Gold is highly susceptible to higher interest rates, which increase the opportunity cost of holders of the non-yielding metal.
Gold has gained about 17% since the beginning of the year and is heading towards recording the best annual performance since 2010, thanks to the long-running trade dispute between the United States and China and its impact on the global economy.