Gold Drops as Trump Delays Tariff Hike, ECB Awaited
Thursday, 12 September 2019 08:50 WIB | PRECIOUS METALS |GOLDEMAS Spot Emas

Gold declined after President Donald Trump said he will delay the next tariff increase on Chinese goods by about two weeks, boosting demand for risk assets and creating a more positive backdrop for any trade talks early next month. The move came ahead of key central bank policy meetings.

On Wednesday, Trump said he was postponing an extra 5% tariff on $250 billion worth of goods from Oct. 1, the day China marks the 70th anniversary of the People's Republic. Investors are also awaiting a potentially pivotal European Central Bank policy decision on Thursday, with the Federal Reserve gathering next week. The yield on 10-year Treasuries rose for a seventh day.

Spot gold as much -0.5% to $1,489.30/oz, and trades at $1,492/oz at 9:13am in Singapore; +0.8% Wednesday.

Source : Bloomberg

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