Gold prices held steady around $3,320 per ounce on Tuesday, as investors awaited further developments in the ongoing US-China trade discussions. High-level US-China trade talks began in London on Monday and were set to continue today, as both sides sought to shore up a fragile truce in a dispute that has expanded from tariffs to restrictions on rare earth elements. Treasury Secretary Scott Bessent described Monday’s talks as a “good meeting,” while Commerce Secretary Howard Lutnick described them as “fruitful,” bolstering hopes of progress in thawing relations between the world’s two largest economies. Investors are also looking ahead to US inflation data due later this week for insights into the Federal Reserve's monetary policy path. Meanwhile, a survey released Monday by the New York Federal Reserve showed that Americans’ concerns about future inflation eased in May, while confidence in their personal finances improved.