Gold prices rose on Wednesday as uncertainty surrounding the finalisation of a U.S.-China trade agreement weighed on sentiment and fuelled some safe-haven buying, with investors awaiting key U.S. inflation data for further market direction.

Gold edged higher even after the US and China said they had agreed on a plan to ease trade tensions during talks in London.

Gold’s price has moved higher since the beginning of the week, with gold’s price currently just above $3300 per troy ounce. In today’s report we intend to discuss fundamental issues that may be affecting the precious metal’s price action and conclude the report with a technical analysis of gold’s daily chart.