Gold largely steady as markets await signals from Middle East, Trump-Xi meeting

Gold prices remained relatively stable amid investor focus on the Middle East conflict and the Trump-Xi Jinping meeting. Iranian vessels increased their passage through the Strait of Hormuz, contributing to a decline in oil prices, while gold faces headwinds from rising interest rates. Markets are hopeful for a resolution to the Middle East conflict and a positive outcome from the Trump-Xi meeting, but geopolitical uncertainty persists.