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Gold prunes gains on reconciliatory trade comments, profit-booking


Monday, 26 August 2019 16:44 WIB

GOLDEMAS Spot Emas


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Gold prices erased early gains on Monday, slipping from a six-year high touched during the session, as some of the safe-haven demand waned after the United States and China indicated a possible de-escalation of trade war, that also led to some profit-taking.

Spot gold rose 0.1% to $1,527 per ounce as of 08:22 GMT, after hitting $1,554.56 an ounce earlier, its highest since April 2013.

The bullion had hit this level after tit-for-tat tariffs by the U.S. and China escalated trade tensions, and boosted demand for safe-haven assets.

U.S. gold futures were also up 0.1% at $1,538.70 an ounce.

Trump said on Monday China had contacted U.S. trade officials overnight to say they wanted to return to the negotiating table.

Source : Reuters


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