Commodity News
HeadLine : Gold dips on Sino-U.S. trade optimism, firm dollar
Date : Jan 13 2020
Gold prices fell on Monday as expectations of an interim trade deal signing between the United States and China boosted the dollar and dented some of bullion's safe-haven appeal. Spot gold dipped 0.4% to $1,555.76 per ounce. U.S. gold futures fell 0.2% at $1,556.30. A Phase 1 trade deal between Washington and Beijing is due to be signed at the White House on Wednesday, although negotiations on a phase two deal could go on for months. U.S. Treasury Secretary Steven Mnuchin said on Sunday, China's commitments in the Phase 1 trade deal were not changed during a lengthy translation process and will be released this Gold prices had gained 18% last year on the backdrop of a protracted trade tussle between the world's top two economies and its impact on global growth.week. The dollar index nudged higher boosted by optimism ahead of a trade agreement finalisation, making gold more expensive for buyers using other currencies. Physical gold demand improved in India in the second half of last week as domestic prices slipped from a record high, though demand in other Asian regions was dented by a spike in global prices to their highest in nearly seven years.

Source : Reuters
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