Ammon News - Gold climbed on Thursday after the Federal Reserve warned of rising inflation and labor market risks fuelling economic uncertainty, while investors awaited the outcome of the U.S.-China trade talks this weekend.

Spot gold rose 0.9% to $3,392.90 an ounce, as of 0416 GMT. U.S. gold futures firmed 0.2% to $3,399.80.

The Fed held interest rates steady on Wednesday but said risks of higher inflation and unemployment had risen, as its policymakers grapple with the impact of President Donald Trump's tariffs.

Trump is expected to announce a trade deal between the U.S. and Britain on Thursday, the New York Times reported.

The non-yielding bullion, a safeguard against political and financial turmoils, thrives in a low-interest-rate environment.

Bullion hit a record high of $3500.05 on April 22.

Spot silver rose 1.2% to $32.85 an ounce, platinum gained 0.9% to $982.81 and palladium fell 0.3% to $969.93. Reuters