Gold holds stable ground amid Trump, Xi Summit uncertainty

May 14, 2026 (MLN): Gold remained stable on Thursday, buoyed by a softening U.S. dollar that made the commodity more attractive to international buyers.

Currently, spot gold is slightly down 0.22% to $4,699.32 an ounce as of [10:53 am] PST, according to data reported by Mettis Global.

Markets remained cautious as attention turned to high-stakes diplomatic engagements between President Donald Trump and Chinese President Xi Jinping in Beijing, while traders also kept a close watch on developments in the ongoing Iran conflict.

The Beijing summit carries significant weight, with President Trump seeking to lock in economic agreements, preserve a delicate ceasefire on trade tensions, and address complex geopolitical challenges including the situation in the Middle East.

Adding to the mixed outlook for gold, fresh economic data released Wednesday revealed that U.S. producer prices surged at their sharpest pace in four years during April, driven by rising costs across both goods and services, a clear indicator that inflationary pressures are building, according to Reuters.

The dynamic creates a tug-of-war for gold investors. On one hand, the metal has long served as a popular shield against inflation. On the other, the prospect of higher interest rates  a common tool used to combat rising prices  puts downward pressure on gold, which generates no yield of its own.

Elsewhere in the precious metals market, silver slipped 1% to $87.08 an ounce, while platinum held steady around $2,137.30. Palladium dipped marginally, shedding 0.1% to trade at $1,499.14.

Copyright Mettis Link News