Gold prices are nearing all-time highs due to a weakening dollar and optimistic trade negotiations. Gold futures rose by 0.2% to $3,293.30 per ounce, and spot gold price increased by 1.4% to $3,286.03 per ounce. Susannah Streeter from Hargreaves Lansdown noted a resurgence in trade discussions between the US and Canada, along with an agreement affecting tech firm taxes. Additionally, the renewed trade deal with China is fostering optimism, suggesting better access for US companies to key rare earth minerals from China, despite limited details on the agreement.
Exuberance is set to continue at the start of the week, as more trade deal scores are on the doors and geopolitical tensions have eased off.
Talks between Canada and the US are back on the cards, after an agreement to scrap a tax targeting American tech firms.
The trade deal announced again between the US and China has poured more optimism into glass half full attitudes.
Even though it's still pretty scant on detail, the agreement looks set to give US companies better access to crucial rare earth minerals, exported from China.
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