Gold prices rose in Asian trading Thursday after the Federal Reserve held rates steady and warned of rising economic uncertainty. The Fed’s cautious outlook prompted safe-haven buying, supporting gold despite pressure from renewed U.S.-China trade talks.

President Trump’s announcement of a “major” trade deal sparked brief optimism, but reports suggest the deal may involve the UK—limiting its economic impact and keeping gold demand intact.

While gold dipped earlier in the week, skepticism over meaningful progress in trade negotiations helped prices recover. With uncertainty lingering, gold is likely to stay sensitive to Fed signals and global trade developments.