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| Commodity News |
| HeadLine : |
Gold inches down as easing U.S.-Iran tensions whet risk appetite |
| Date : |
Jan 10 2020 |
Gold prices edged lower on Friday, having declined as much as 1% in the previous session, as de-escalation in U.S.-Iran tensions brought relief to markets and boosted investors' appetite for riskier assets. Spot gold fell 0.1% to $1,551.02 per ounce . Prices hit their lowest since Jan. 3 at $1,539.78 in the previous session. U.S. gold futures eased 0.2% to $1,551.40. Markets received a respite after U.S. President DonaldTrump responded to Iran's missile attacks with sanctions instead of military action. World's shares hit a record high on relief as Mideast tensions subsided. The U.S. House of Representatives passed a resolution on Thursday to stop Trump from further military action against Iran, days after he ordered a drone strike that killed a top Iranian commander and raised fears of war. Investors are now focused on a 'Phase 1' trade deal signing between Washington and Beijing next week. Trump said his administration will start negotiating the 'Phase 2' agreement soon but that he might wait to complete any deal until after November's U.S. presidential election.
Source : Investing
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