Commodity News
HeadLine : Gold falls ahead of U.S.-China trade deal on improved risk appetite
Date : Jan 14 2020
Gold fell on Tuesday, as investors opted for riskier assets after the United States dropped China's designation as a currency manipulator ahead of an interim deal between the two sides to ease their trade dispute.  Spot gold dipped 0.7% to $1,537.67 per ounce . U.S. gold futures fell 0.9% to $1,537.10. Global equities rallied to reach fresh record highs as the world's two biggest economies prepare to formalise a truce.  The U.S. Treasury on Monday said China should no longer be designated a currency manipulator in a long-delayed semi-annual currency report, reversing its August finding; the decision coincided with the arrival of a high-level Chinese delegation for a trade deal signing. The dollar index held steady against a basket of rivals, making gold expensive for holders of other currencies. U.S. Federal Reserve officials may broadly agree that interest rates are unlikely to change soon, but they differed Monday on how concerned they are about developing financial risks in assessing when a rate hike might be appropriate.

Source : Reuters
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