Gold prices firmed on Wednesday as investors stayed cautious amid lingering uncertainty over the U.S.-China trade truce and waited for key U.S. inflation data for clues on the Federal Reserve's interest rate trajectory.

Gold advanced even after the US and China said they had agreed on a plan to ease trade tensions during talks in London.

Gold’s price has moved higher since the beginning of the week, with gold’s price currently just above $3300 per troy ounce. In today’s report we intend to discuss fundamental issues that may be affecting the precious metal’s price action and conclude the report with a technical analysis of gold’s daily chart.