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Gold Steady Near 10-Month High on Trade Talk Hopes


Thursday, 21 February 2019 13:24 WIB

GOLDEMAS Spot EmasSpot Gold


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Gold rose to near a 10-month high amid renewed optimism over progress in the ongoing U.S.-China trade talks, even as minutes from the Federal Reserve's January meeting hinted at the possibility of further rate hikes.

U.S. and Chinese negotiators are working on multiple memorandums of understanding that would form the basis of a final trade deal, according to a person briefed on the talks.

On the technical side, gold's 14-day relative strength index rose above 70 on Thursday, indicating the metal may have been overbought.

Spot gold +0.1% to $1,340.06/oz at 12:28pm in Singapore

Prices closed -0.2% on Wednesday after touching $1,346.80, highest intraday level since April

Source : Bloomberg


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