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Gold Drops as Trump Delays Tariff Hike, ECB Awaited


Thursday, 12 September 2019 08:50 WIB

GOLDEMAS Spot Emas


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Gold declined after President Donald Trump said he will delay the next tariff increase on Chinese goods by about two weeks, boosting demand for risk assets and creating a more positive backdrop for any trade talks early next month. The move came ahead of key central bank policy meetings.

On Wednesday, Trump said he was postponing an extra 5% tariff on $250 billion worth of goods from Oct. 1, the day China marks the 70th anniversary of the People's Republic. Investors are also awaiting a potentially pivotal European Central Bank policy decision on Thursday, with the Federal Reserve gathering next week. The yield on 10-year Treasuries rose for a seventh day.

Spot gold as much -0.5% to $1,489.30/oz, and trades at $1,492/oz at 9:13am in Singapore; +0.8% Wednesday.

Source : Bloomberg


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