Gold was little changed amid renewed concerns over global trade tensions after the U.S. proposed tariffs on roughly $2.4 billion of French products.
This was in response to a tax on digital revenues that hits large American tech companies including Google, Apple Inc., Facebook Inc. and Amazon.com Inc. Also adding to the uncertainty: the looming Dec. 15 deadline on the next round of levies on China. Commerce Secretary Wilbur Ross warned that President Donald Trump will go ahead with those if there™s no deal with Beijing.
Still, there could be some headwinds for bullion after a pickup in factory data in China and Europe signaled that global growth could be stabilizing, although that was countered by an unexpected decline in U.S. manufacturing.
Spot gold little changed at $1,463.44/oz at 9:40am in Singapore.
Source : Bloomberg
RELATED NEWS
Gold prices rise on weaker dollar as traders weigh progress on U.S.-China trade
Saturday, 14 December 2019 02:21 WIBGold prices climbed Friday, buoyed by weakness in the dollar and a fall in bond yields, as traders struggled to sort out news that China has agreed to the text of a phase one trade deal with United States. Against that backdrop, February gold rose $3.70, or 0.3%, at $1,476 an ounce, set to more tha...
Gold Steady as Weaker Dollar Offsets Increased Risk Appetite
Friday, 13 December 2019 18:40 WIBGold prices were steady on Friday as a weaker dollar helped offset pressures from an increased appetite for riskier assets following reports of a breakthrough in China-U.S. trade negotiations, while palladium scaled a fresh peak. Spot gold fell 0.1% to $1,467.20 per ounce by 0452 GMT, but was up ab...
Gold Fails to Crumble as Trade Deal Hit Meets Dollar's Decline
Friday, 13 December 2019 15:19 WIBGold held its own on Friday as investors weighed bullion™s merits heading into 2020 after the U.S. and China managed a breakthrough in their bitter and drawn out trade dispute, with the commodity™s initial losses driven by weaker haven demand offset by a slump in the dollar. Bullion fluctu...
Gold Prices Slip on News of Phase One Trade News; U.K. Election in Focus
Friday, 13 December 2019 12:59 WIBGold prices are modestly down on Friday in Asia after reports said an agreement in principle had been reached on a phase one trade deal between the U.S. and China. U.S. Gold Futures slipped 0.1% to $1,471.85 by 12:45 PM ET (04:45 GMT). The written text of the phase one agreement is still being fin...
Gold Extends Decline After Trade Breakthrough, U.K. Election
Friday, 13 December 2019 07:42 WIBGold headed for a back-to-back decline as President Donald Trump signed off on a so-called phase-one trade deal with China and an exit poll indicated a comfortable majority for the governing Conservative Party in the U.K.'s national election. Bullion for immediate delivery fell as much as 0.5% in e...
Lagarde's ECB Keeps Policy Unchanged as Strategy Review Looms
Stocks Open Slightly Lower as Gloomy Trade Clouds Offset Monetary Policy Boost
Oil Prices Gain as OPEC Revises Deficit Forecast
Gold ends lower as Trump tweet raises optimism that trade deal with China near
Oil rises on US-China trade deal optimism
Hong Kong Stocks Soar on Trade Deal Reports (Review)
Saturday, 14 December 2019 04:24 WIB
Hong Kong stocks jumped more than two percent Friday after reports said China and the US had finally reached a partial trade agreement that will see Washington cancel tariffs due to be imposed at the weekend.
The Hang Seng index soared 2.57...