Gold jumped after a run of losses as traders digested comments from President Donald Trump following his closely watched meeting with Chinese leader Xi Jinping, which produced a trade deal that may stop short of a sweeping agreement.
Bullion rose as much as 1.3% to near $3,982 an ounce, after falling almost 5% over the previous four sessions. Trump said he had an “amazing meeting” with Xi and would immediately halve fentanyl tariffs to 10% in a deal that will see China restart soybean imports and pause rare-earths licensing for a year. Despite speculation that Trump might make additional concessions — including the US opening access to Nvidia Corp.’s most advanced Blackwell line — the president indicated that it had not been part of the discussions.