Gold drops after President Donald Trump delayed the imposition of some new tariffs on Chinese goods, providing relief to risk assets that had been under pressure earlier in the week.
Tuesday's move to at least hit the pause button in his fight with China also temporarily allayed concerns over the impact of trade tensions on a slowing global economy. Still, some tariffs will take effect on Sept. 1 as planned, and while senior officials have spoken by phone, it's unclear whether the two sides had made any progress.
Gold also retreated after a stronger-than-expected yuan fixing in China. The precious metal remains near the highest level since 2013 amid expectations for further monetary easing.
Spot gold -0.4% to $1,495.98/oz at 9:52am in Singapore.Prices -0.6% on Tuesday after earlier touching $1,535.11, the highest level since April 2013.
Source : Bloomberg
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