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Gold Declines to Year's Low on US-China Trade Truce


Monday, 21 May 2018 16:55 WIB

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Gold resumes drop to this year's low after Treasury Secretary Steven Mnuchin says the U.S. is putting trade war with China on hold, supporting the dollar, yields and risk-on sentiment. Platinum fell in the longest run of losses in 2 1/2 years.

Bullion for immediate delivery -0.7% to $1,284.68/oz in London. Metal -2% last week, most since December. Bloomberg Dollar Spot Index +0.2%, touching 5-month high.

Other precious metals, Platinum -0.7% to $881/oz, touching lowest since mid-December, Price down a 7th day, longest run of losses since 2015. Palladium +0.5% to $972.58/oz and Silver -0.7% to $16.3343/oz.

Source : Bloomberg


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