China, Gold
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Gold extended declines on Tuesday to a three-week low as optimism over a US-China trade deal continued to put pressure on the safe-haven asset.
Gold and silver prices extended last week's sharp losses as the US and China agreed to a framework for trade negotiations, and analysts say prices could move even lower in the near term.
Net imports via Hong Kong to China for September stood at 22.047 metric tons, compared with 26.746 tons in August.
Gold prices dropped below $4,000 an ounce in Monday dealings, pressured in part by renewed optimism surrounding U.S.-China trade negotiations. That price level marks a "key threshold" that will define the near-term forecast for the precious metal,
China has emerged as a major force behind the recent surge in gold prices, with its growing influence projected to surpass even that of the U.S. dollar, according to a top economist.
China aims to become custodian of foreign sovereign gold reserves in a bid to strengthen its standing in the global bullion market, according to people familiar with the matter.
Gold’s record-breaking rally in 2025 shows no signs of slowing, and analysts say China is the key reason behind it. With Beijing’s relentless gold buying and global investors seeking safety amid a weaker dollar,
Gold prices eased on Friday and were on track for their first weekly drop in 10, weighed down a stronger dollar and as market participants squared positions ahead of a key U.S. inflation report due later in the day.
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