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Gold Eases as Trade Deal Hopes Whet Risk Appetite


Thursday, 7 November 2019 19:47 WIB

GOLDEMAS


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Gold fell on Thursday, losing some of its safe-haven appeal as signs of progress in U.S.-China trade negotiations rekindled a rally in stock markets.

China and the United States have agreed to cancel, in phases, the tariffs imposed during their protracted trade war, the Chinese commerce ministry said, without specifying a timetable.

Spot gold was down 0.4% at $1,485.02 per ounce at 12:08 GMT, while U.S. gold futures fell 0.5% to $1,485.90.

An interim trade deal is widely expected to include a U.S. pledge to scrap tariffs scheduled for Dec. 15 on about $156 billion worth of Chinese imports, including cell phones, laptop computers and toys.

Source : Reuters


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