Spot Gold Edges Higher After Two Days of Heavy Losses

Gold advanced, paring some of the week’s steep declines in a market that shifted from bullish enthusiasm to concerns of an overheated rally.

Spot gold rose 0.3% on Thursday, after seeing losses of about 6% over the previous two sessions. Investors continued to weigh the prospect that a US-China trade deal could relieve some of the geopolitical tensions that have bolstered demand for haven assets like gold in recent weeks.