Gold edges up, Bitcoin dips as investors wait on Trump-Xi summit
Brent holds near $100 as Middle East supply worries fade ahead of Thursday's meeting
Published
Chart: USO, a fund that tracks crude, one-minute prices through the session
Spot gold rose 0.7% to $4,373.50 and Bitcoin fell 0.7% to $86,335 as investors positioned ahead of Thursday's summit between President Trump and Chinese leader Xi Jinping, where AI, trade and investment are expected to top the agenda.
US and Chinese negotiators held a second day of trade talks in New York on Monday, with the discussions centered on AI and investment in the run-up to the summit.
Brent crude held around $100 a barrel as concerns over Middle East supply eased. Trump said Monday that Iran "is not doing well" and that he had meetings scheduled on the matter that day. Iranian and US officials were also due in New York this week for talks at the United Nations as Qatar works to broker a deal, after Tehran sent conditions to end the war to Washington through Doha and is now waiting on a response, according to Rezaei. Separately, Trump said the US is talking with Yemen's Houthis, who want a deal, as Saudi Arabia pushes for a two-week truce through Omani mediation. He had considered military action against the Houthis over the weekend before pulling back, Axios reported.
The modest moves in gold and Bitcoin point to a market taking a wait-and-see approach to the geopolitical backdrop rather than pricing in any sharp escalation. Taiwan equities' strength ahead of the summit suggests investors are leaning toward a constructive outcome from the Trump-Xi talks, with sentiment on the broader risk picture staying close to neutral until Thursday's meeting delivers more clarity.