Gold Drops 2nd Day on Rising Stocks, Trade Comments
Monday, 19 August 2019 09:39 WIB | PRECIOUS METALS |GOLDEMAS

Gold declined for a second day as investors favored riskier assets and weighed President Donald Trump™s comments on trade talks with China.

Stocks in Asia gained along with U.S. futures Monday, while Treasury yieldscontinued to recover from multi-year lows reached last week, when an inversion in the yield curve sparked recession worries. Trump said the U.S. is œdoing very well with China, and talking! but suggested he wasn™t ready to sign a trade deal, hours after his top economic adviser laid out a potential timeline for the resumption of substantive discussions with Beijing.

Also in focus this week is Federal Reserve Chair Jerome Powell™s address at the Kansas Fed™s annual Jackson Hole gathering on Friday, which will be key to gauging whether U.S. policy makers will add to July™s rate cut. Minutes of the Fed™s July meeting are due for release Wednesday.

Spot gold -0.6% to $1,505.20/oz at 9:28am in Singapore; -0.6% Friday.

Source : Bloomberg

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