Gold closes higher as US dollar retreats ahead of inflation data

Gold prices finished in the green today, Nov. 13, lifted by the decline in the US dollar and Treasury bond yields, ahead of potentially market-moving developments after the China-US talks.

Bullion for December delivery jumped 0.65%, or $12.50, to close at $1,950.20 per ounce.

The US dollar index, which measures the performance of the US currency against a basket of six major currencies, shed 0.20% to 105.67 points at 09:41 pm Makkah time.

Meanwhile, the US 10-year Treasury yields erased all their gains today, falling by about 1.5 basis points to 4.632%, after rising to 4.697% earlier in the session.

Investors are anticipating a summit between the US and Chinese presidents soon, hoping that the talks between them will result in an alleviation of the current trade tensions that are undermining some transactions.

All eyes are also on the release of the US Consumer Price Index data on Nov. 14, longing for a further decline in inflationary pressures so that the Federal Reserve would ease its monetary policy soon.