Gold Holds Gain on Trade Doubts, Powell-Trump Meeting

Tuesday, 19 November 2019 09:27 WIB



Gold held an advance as investors continued to await signs of progress in U.S.-China trade negotiations amid lingering doubts that a first-phase deal will be pushed through to a successful conclusion.

Bullion rose on Monday as traders weighed a move by the U.S. to allow some American companies to continue doing business with Huawei Technologies Co. against reports Beijing is skeptical about reaching a broad deal anytime soon.

Meanwhile, Federal Reserve Chairman Jerome Powell met with President Donald Trump and Treasury Secretary Steven Mnuchin to discuss the economy, marking a second face-to-face sit-down this year amid relentless White House criticism of the U.S. central bank. Trump tweeted that they had discussed a range of issues including interest rates and the dollar's strength.

Spot gold little changed at $1,469.96/oz at 9:57am in Singapore after +0.2% Monday and +0.6% last week. Spot silver -0.2% at $17.0193/oz. Palladium -0.4% to $1,733.19/oz.

Source : Bloomberg


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