Gold XAU/USD finds itself struggling to make significant gains despite a slight uptick during the Asian trading session. The precious metal nearly reached a three-day peak but encounters intraday selling pressure near the $3,375 mark. This development occurs amid a backdrop of strong global risk sentiment fueled by increasingly optimistic news regarding a potential extension of the US-China trade truce and the imminent US-Russia summit focused on resolving the ongoing conflict in Ukraine.

Despite recent fluctuations, the outlook for gold continues to be influenced heavily by external economic factors. The anticipation surrounding key geopolitical events often shapes trader sentiment, counterbalancing short-term gains. As traders assess the impact of these developments on market stability, gold remains a vital asset for many seeking refuge amidst uncertainties.