Gold held steady at $4,691.12/oz in Asian trade ahead of the Trump‑Xi summit, with US futures down 0.2% to $4,697.97.
Rising US producer and consumer inflation, driven by oil prices and Iran tensions, kept the dollar near a two‑week high, pressuring bullion.
Oil prices stayed above $100 per barrel, raising concerns that Gulf supply disruptions could intensify global inflation pressures.
India announced higher import duties on gold and silver to curb overseas purchases and protect foreign‑exchange reserves, potentially dampening domestic demand.