Gold treads water as trade optimism lifts risk assets
Friday, 13 September 2019 10:02 WIB | PRECIOUS METALS |GOLDEMAS Spot EmasPalladium

Gold prices were little changed on Friday, on track for a third weekly decline as optimism over the U.S.-China trade talk fanned risk sentiment, while palladium hovered around a record peak on concerns about tight supplies of the autocatalyst metal.

Spot gold was trading flat at $1,497.81 per ounce, as of 01:05 GMT. Prices have dropped about 0.6% so far this week, poised for a third consecutive weekly decline. U.S. gold futures dropped 0.1% to $1,505.50.

Palladium hit a record peak of $1,621.55 on Thursday on concerns over tight supplies due to possible labour issues in South African mines. The metal dropped 0.5% to $1,609.85 in early trade.

Hopes of progressing trade talks kept risk appetite up, after U.S. President Donald Trump said on Thursday he preferred a comprehensive trade deal with China but did not rule out the possibility of an interim pact, even as he said an œeasy agreement would not be possible.

Source : Reuters

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