Wednesday, 29 August 2018 01:27 WIB |
PRECIOUS METALS |GOLDEMAS
Gold prices ended with a modest loss on Tuesday, finding support with the dollar near a one-month low, but also pressured by a jump in U.S. consumer confidence, which backs up the Federal Reserve™s plan for further interest-rate increases.
The U.S. dollar fell against most of its key rivals Tuesday as investors assess the preliminary trade deal announced Monday between the U.S. and Mexico. The deal generally lifted riskier markets, dulling demand for gold as a perceived investment safe haven, but did little to allay concerns for a continued trade spat between the Trump administration and China.
Against this backdrop, December gold fell $1.60, or 0.1%, to settle at $1,214.40 an ounce as the leading dollar index fell 0.2% to 94.554 in Tuesday dealings, but held on to a slight month-to-date gain.
Source : Marketwatch