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
RELATED NEWS
Gold falls 1% after robust US jobs data
Saturday, 7 December 2019 03:06 WIBGold slid 1% on Friday as strong U.S. jobs data renewed bets the Federal Reserve would hold pat on interest rates and boosted demand for riskier assets, while supply-squeezed palladium soared to a new record high. U.S. job growth increased by the most in 10 months in November, confirming that the ec...
Gold Futures Drop as U.S. Payrolls Rise More Than Expected
Friday, 6 December 2019 21:04 WIBGold futures plunged, erasing a weekly gain, as stronger-than-expected U.S. jobs data helped ease economic concerns that had fueled demand for the metal as a haven. Payrolls jumped 266,000, the most since January, according to a government report Friday that topped all estimates in a...
Gold Heads for 2nd Weekly Gain as Trade, Jobs in Focus
Friday, 6 December 2019 15:58 WIBGold headed for a second weekly advance as developments in the trade war took center stage and as traders waited for key monthly U.S. jobs data due later Friday. China said Friday it's in the process of waiving retaliatory tariffs on imports of U.S. pork and soy by domestic companies...
Gold Heads for 2nd Weekly Gain as Trade, Jobs in Focus
Friday, 6 December 2019 10:11 WIBGold headed for a second weekly advance as developments in the trade war took center stage and as traders waited for the key monthly U.S. jobs data due later Friday. President Donald Trump said that talks were œmoving along well, although a news report said that Washington and B...
Gold prices recoup some of their recent losses ahead of U.S. jobs data
Friday, 6 December 2019 02:11 WIBGold futures finished higher Thursday, recouping much of the losses suffered a day earlier, as traders awaited monthly domestic employment data due at the end of the week, which may influence haven demand for the precious metal. Gold for February delivery on Comex added $2.90, or 0.2%, to settle at...
Gold prices recoup some of their recent losses ahead of U.S. jobs data
Hong Kong stocks finish week on positive note (Review)
Hong Kong stocks end with healthy gains (Review)
U.S. Stocks Shrug Off Trade Deal Concerns, Close Higher
Dow Closes Nearly 340-Points Higher After Jobs Report Sparks Stock-Market Rally
Hong Kong stocks finish week on positive note (Review)
Saturday, 7 December 2019 04:32 WIB
Hong Kong closed more than one percent higher Friday, boosted by renewed hopes that China and the United States will eventually reach a partial trade deal.
The Hang Seng index added 1.07 percent, or 281.33 points, to 26,498.37.
The benchmark...