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Gold subdued as equities jump on trade hopes; focus on Fed


Tuesday, 29 October 2019 17:24 WIB

GOLDEMAS Spot Emas


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Gold prices were little changed on Tuesday, hovering around $1,490 an ounce as progress in China-U.S. trade talks sent equities soaring, while anticipation ahead of major central bank meetings in the week provided some support.

Spot gold was trading at $1,493.11 per ounce at 09:38 GMT, after shedding nearly 1% in the previous session. U.S. gold futures were flat at $1,495.70 an ounce.

U.S. President Donald Trump said on Monday he expected to sign a significant part of the trade deal with China ahead of schedule. The possibility of an extension on tariff suspensions on $34 billion of Chinese goods also fuelled optimism.

Wall Street jumped to an all-time peak after the statements on Monday, while Asian shares scaled a three-month high in early trade on Tuesday.

Source : Reuters


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