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Gold edges lower as trade tensions weigh


Monday, 3 September 2018 21:29 WIB

GOLDEMAS Spot EmasEmas berjangka


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Gold prices eased slightly on Monday as the dollar held near a one-week high on worries over an escalation in trade conflicts between the United States and other countries.

Spot gold was down 0.1 percent at $1,199.56 an ounce at 1350 GMT, having touched an intraday low of $1,195.36.

U.S. gold futures were flat at $1,206.70 an ounce.

The dollar index, which measures the greenback against a basket of currencies, was barely changed at 95.171.

A firmer U.S. currency makes dollar-priced gold more expensive for holders of other currencies, potentially sapping consumption. Safe-haven demand for gold has this year been overshadowed by the metal’s relationship with the greenback.

U.S. President Donald Trump said on Saturday that there was no need to keep Canada in the North American Free Trade Agreement and warned Congress not to meddle with negotiations or he would terminate the trilateral pact, which also includes Mexico.

Source: Reuters


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