Gold pauses decline on Thursday

Gold prices rose to around $4,120 per ounce on Thursday, halting a two-day decline as investors weighed trade developments and geopolitical tensions that lifted the metal’s safe-haven appeal.

Reports indicated that the US is considering export restrictions on China involving American-made software, though President Donald Trump later confirmed plans to meet with Chinese President Xi Jinping.

At the same time, Washington announced fresh sanctions on Russia, following reports that the planned Trump-Putin summit was postponed after Moscow rejected a Ukraine ceasefire.

Expectations that the Federal Reserve will deliver two more rate cuts by year-end also supported bullion.

Still, gold remained about 6% below its recent peak amid profit-taking after repeated record highs, marking its steepest weekly loss in over five years earlier this week.