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Gold Holds Near Eight-Week Low as Trade Talks in Focus


Tuesday, 1 October 2019 09:56 WIB

GOLDEMAS


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Gold held a decline near the lowest level in eight weeks as investors weighed a stronger dollar and focus turned to U.S.-China trade talks scheduled for next week.

Spot gold -0.2% to $1,470.26/oz at 9:49am in Singapore. Prices as much as -2.2% to $1,464.55 Monday, lowest level since Aug. 6. Bloomberg Dollar Spot Index steady after +0.2% Monday.

The Trump administration is getting ready to host Chinese Vice Premier Liu Heand other senior officials for trade talks expected Oct. 10-11, just days before another threatened increase in U.S. tariffs on Chinese imports is due to take effect. Bullion prices slumped overnight after the U.S. partially refuted a report that it is discussing imposing limits on U.S. investments in Chinese companies and financial markets. China and Hong Kong are shut for holidays.

Source : Bloomberg


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