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Gold inches down as trade worries boost dollar


Tuesday, 12 February 2019 08:48 WIB

GOLDEMASEmas berjangkaSpot Gold


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Gold prices eased on Tuesday as investors sought safety in the dollar from a long-drawn U.S.-China trade war and its impact on the global economic growth.

Spot gold was down 0.2 percent at $1,306.51 per ounce, as of 01:02 GMT, after falling 0.4 percent in the previous session.

U.S. gold futures fell 0.1 percent to $1,310.20 per ounce.

Investors are now focussed on the new round of trade talks between China and the United States that started in Beijing on Monday.

These talks come as the world’s two largest economies try to hammer out a deal before a March 1 deadline, after which U.S. tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.

Sino-U.S. trade tensions have rattled financial markets since last year and also boosted the appeal of the U.S. dollar as a safe-haven.

The dollar index was steady at 97.08, after advancing 0.4 percent in the previous session in its largest percentage gain since Jan. 24.

A stronger greenback makes dollar-denominated gold more expensive for holders of other currencies.

Source: Reuters


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