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| Commodity News |
| HeadLine : |
Oil prices rise as China agrees to more U.S. energy purchases |
| Date : |
Jan 16 2020 |
Gold prices held steady on Thursday as investors remained concerned about existing tariffs and unresolved issues after Washington and Beijing signed a partial trade deal. Spot gold edged 0.1% higher to $1,556.69 per ounce. U.S. gold futures GCv1 rose 0.2% to $1,556.40. U.S. President Donald Trump and Chinese Vice Premier Liu He signed a deal on Wednesday, defusing an 18-month row between the world's two largest economies. Gold prices had gained 18% last year on the back of the trade war and its impact on global economy. Adding to concerns, China's pledge to buy U.S. farm goods based on "market conditions" during the deal signing ceremony spurred doubts among farmers and commodity traders over Beijing's lingering tariffs on U.S. exports. World stocks inched to a record high as the Phase 1 deal reduced uncertainties that beset financial markets. The Democratic-led House of Representatives voted on Wednesday to send two formal charges against Trump to the Senate. U.S. Federal Reserve expressed confidence that borrowing costs are at the right level to sustain growth and lift inflation to healthier levels, despite what businesses say is a lingering drag from uncertainty over U.S. trade policy.
Source : Investing
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