Gold rises as investors await US and Chinese leaders' meeting
Gold prices ticked up on Thursday as investors watched for updates from a key meeting between US President Trump and China's President Xi.
The outcome could shake up global trade and even impact tensions with Iran.
Spot gold rose 0.4% to $4,707.08 per ounce, with US gold futures showing a similar bump.
Falling yields and inflation boost gold
Falling US Treasury yields have made gold more appealing since it doesn't pay interest.
Rising inflation in the US is also in focus: producer prices just saw their biggest jump in four years, making rate cuts less likely this year.
Over in India, higher import taxes have led to weak demand and big discounts on gold.
Meanwhile, President Xi Jinping warned that Taiwan tensions could escalate fast, reminding everyone why investors see gold as a safe bet during uncertain times.