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Gold Set For Biggest Weekly Drop in 2-1/2 Years on Trade Optimism


Friday, 8 November 2019 20:18 WIB

GOLDEMAS


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Gold prices inched lower on Friday and were on track for their biggest weekly decline in 2-1/2 years as a stronger dollar weighed, while optimism around U.S.-China trade talks dented bullion's safe-haven appeal.

Spot gold was down 0.1% at $1,465.97 per ounce, poised for its biggest weekly drop - about 3% - since May 2017. On Thursday, prices fell to their lowest since Oct. 1 at $1,460.75. U.S. gold futures were steady at $1,466.90.

The dollar index was headed for a weekly gain as it benefited from news that China and the United States had agreed to roll back tariffs as part of a potential preliminary pact to end their trade war.

Source : Reuters


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