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Gold edges lower as fears of all-out US-China trade war ease


Thursday, 5 April 2018 08:43 WIB

GOLDEMAS Spot EmasEmas berjangka


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Gold prices fell on Thursday, after hitting a one-week high in the previous session, as the dollar steadied and equities recovered on the United States's willingness to negotiate on tariffs with China, easing fears of a full-blown trade war.

Spot gold was down 0.2 percent at $1,331 per ounce as of 00:52 GMT, and the U.S. gold futures fell 0.4 percent to $1,335.10 an ounce.

Retaliation from China, the world's largest gold consumer, lifted spot gold prices to a one-week high of $1,348.06 per ounce on Wednesday as the U.S. dollar tumbled against the yen and equities dipped.

The dollar held steady against the yen on Thursday after recovering against the safe-haven Japanese currency as stocks bounced back from a sell-off triggered by an escalating U.S.-China trade spat.

The United States voiced willingness on Wednesday to negotiate a resolution to an escalating trade fight with China after Beijing retaliated against proposed U.S. tariffs on $50 billion in Chinese goods by targeting key American imports, but the Chinese ambassador to Washington said it "takes two to tango."

Source: Reuters


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