Gold prices closed higher today despite the dollar's rise against most major currencies, amid a positive atmosphere surrounding the US-China trade negotiations.

US President Donald Trump said negotiations with the Chinese side were going well, expecting a trade deal soon.

Trump also stated that the US economy is doing well, adding that he will seek help from the Supreme Court if the Democratic Party continues its attempts to remove him from the presidency.

Separately, the dollar index (against a number of major currencies) rose by 0.4% to 98 points at 17:50 GMT, hitting a high of 98 points and a low of 97.5.

Gold futures (June delivery) rose by 0.5% to close at $1279.4 an ounce, with the day's highest at $1280.7 and the lowest at $1270.5.

The US dollar rose against most of the major currencies on today's trading, as its gains got boosted following comments from the US President Donald Trump on trade negotiations with China.

Trump said that talks with China are going very well, noting that the US economy is in great shape and that the performance of negotiations with Beijing is doing well.

A new round of trade talks between Washington and Beijing will start in the Chinese capital on April 30, followed by another round in the US capital.

Additionally, the US Treasury Secretary Steven Mnuchin has emphasized earlier that the United States and China are already close to reaching a final trade deal.

In terms of trading, by 17:14GMT, the dollar index (against a number of major currencies) rose by 0.4% to 98 points, with a high of 98 points and a low of 97.5 points.

Oil prices fell during today's trading, on pressure from the dollar's rebound against most major currencies in addition to the release of US inventories data, which rose unexpectedly during last week.

The Energy Information Administration (EIA) revealed that oil inventories in The US rose by about 5.5 million barrels last week, while analysts expected a decline by half a million barrels in the same period.

On the other hand, the dollar index (against a number of major currencies) rose by 0.4% to 97.9 points at 16:34 GMT, the highest level at 97.9 points and the lowest level at 97.5 points.

Meanwhile, The markets absorbed the US administration's decision to stop the waivers granted to Iran's crude importers, which have been imposed on Iran in order to reduce its oil exports to zero.

In terms of trading, by 16:35 GMT, West Texas price fell by 0.8% to $65.7 a barrel, the highest price of the day at $66.4 and the lowest price at $65.6.

Brent fell 0.1% to $74.4 a barrel, with a high of $74.7 and a low of $74.02.

The US Energy Information Administration (EIA) released today its report on US crude inventories, which showed a rise in inventories by 5.5 million barrels to 460.6 million barrels during last week, surpassing analysts' forecasts of a half-million barrels drop.

In contrast, US gasoline inventories fell by 2.1 million barrels to 225.8 million barrels, while distillate stocks fell by 700,000 barrels last week.