Slight increase in gold prices as trade tensions ease and Federal Reserve data is awaited.

Gold markets witnessed a slight improvement in prices on Wednesday, May 28th, as demand from investors returned after a decline in the previous session. However, this increase remained limited due to certain boundaries as a result of reduced trade tensions between the United States and the European Union. Traders are now focusing on upcoming US economic data that may shed light on the Federal Reserve's monetary policy direction.

In spot trading, gold rose by 0.15% to reach $3304.89 per ounce, attempting to recover some of the 1% losses from the previous session, while gold futures in the US market remained stable at $3299.30 per ounce.

This improvement was influenced by US President Donald Trump's decision to postpone imposing a 50% tariff on European Union imports, which was scheduled for July 9th, aiming to allow more room for negotiations with the 27-country bloc.

Tim Waterer, Senior Market Analyst at "K. C. M. Trading," noted that prices dropping below $3300 encouraged some buyers to re-enter the market, stating that "the relative optimism prevailing in the broader market after the easing of trade tensions between the United States and the European Union reduces the likelihood of significant price increases at the moment."

Furthermore, market participants are looking towards the release of the Core Personal Consumption Expenditures Index data for April, scheduled for Friday, which is expected to provide important insights into the US Federal Reserve's interest rate policy direction.

In another context, recent data showed an improvement in US consumer confidence in May, ending five consecutive months of decline, supported by the temporary easing of the trade dispute between Washington and Beijing.

As for other precious metals, silver remained at $33.31 per ounce, platinum rose by 0.4% to $1084.07, and palladium declined by 0.2% to $976.22.