According to the portal Investing.com, the price of gold at Asian trading shows a slight increase amid weak economic data from China, Japan and Australia. Also, the uncertainty about the prospects for a trade agreement between the United States and China contributes to increased demand for gold as a protective asset.

Currently, a number of negative news from the global economy act as supporting factors for the yellow precious metal. For example, data from China on industrial production, retail and investment in equipment were worse than expected. In Japan, GDP growth also fell below market expectations. In Australia, according to the results of October, unemployment growth was recorded faster than predicted.

As for the trade conflict between the United States and China, it again began to escalate. The stumbling block was the purchase of agricultural products. China does not want to specify the exact volume of purchases in the contract and insists on indicating this item in the preliminary agreement. Therefore, experts began to doubt that the preliminary agreement, which is considered the first phase of rapprochement, will be signed on time.