Gold prices rose to a one-week high early on Wednesday, rebounding from a seven-month low touched in the previous session, as the dollar weakened against the yen and an end-of-week deadline loomed for US tariffs on Chinese imports.
Spot gold was up 0.4 per cent at $1,257.51 an ounce as of 0058 GMT. It touched a one-week high of $1,257.63 earlier in the session. The metal fell to $1,237.32, its lowest since Dec. 12, in the previous session.
US gold futures were 0.4 per cent higher at $1,258.70 an ounce.
The dollar was down 0.2 per cent against the yen at 110.3
China is putting pressure on the European Union to issue a strong joint statement against President Donald Trump's trade policies at a summit later this month but is facing resistance, European officials said.
US Secretary of State Mike Pompeo will visit Mexico on July 13 to meet President-elect Andres Manuel Lopez Obrador and discuss immigration, trade, security and development, the US and Mexican governments said on Tuesday.
The Bank of Japan is likely to cut its price growth forecasts at a policy meeting later this month as long-term inflation expectations stall, sources said, highlighting the bank's difficulty in hitting its elusive price target.
Holdings of SPDR Gold Trust , the world's largest gold-backed exchange-traded fund fell 0.73 per cent to 803.42 tonnes on Tuesday.
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