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Gold Steady Near Five-Week Low on Trade Deal Optimism


Monday, 4 March 2019 13:28 WIB

GOLDEMAS


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Gold steady near a five-week low as investors weighed prospects of a trade deal that could lift most, or all, U.S. tariffs, boosting risk appetite and dimming the appeal of havens.

Spot gold +0.2% to $1,296.48/oz at 1:11pm in Singapore. Metal -1.5% on Friday, biggest drop at close since Aug. 15, and fell below $1,300 to lowest level since Jan. 24. Bloomberg Dollar Spot Index little changed after +0.3% Friday

Meanwhile, President Donald Trump renewed his criticisms that the dollar was too strong and took a swipe at Federal Reserve Chairman Jerome Powell as someone who “likes raising interest rates.”

Source : Bloomberg


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