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The charm of gold weakens with positive American -Chinese conversations
Gold fell on Monday while calming positive American -Chinese commercial conversations, which led to investors’ safe heavenly assets to the most dangerous investment.
Instant gold prices have fallen 1.4 percent to $ 3277.34, which starts from 04:32 GMT. US Gold Futures fell 1.9 percent to $ 3281.70.
“The dollar index has increased with the appreciation of the Trump administration on the progress made in trade negotiations,” said Jigar Travidi, chief commodity of Rillins Securities. China continues to negotiate the weekend in Switzerland, which has adversely affected the price of gold.
The United States and China concluded on Sunday’s important trade talks; While US officials praised the “deal” to reduce the American trade deficit, Chinese officials said they had reached “important consensus”. The Chinese Deputy Prime Minister Loving will issue a joint statement in Geneva on Monday.
The United States and China imposed mutual duties last month, lighting the trade war that fueled the fear of the world recession.
After the atmosphere of trade negotiations, President Donald Trump’s current and Reuters former advisers said that the United States is facing high customs duties.
Traditionally, gold is developing in a low interest rate atmosphere from economic and political uncertainty as a hedging tool.
On Friday, the Federal Reserve Bank president Beth Hamak in Cleveland said that the US Central Bank needs more time to find out how Trump responds to customs duties and other policies before deciding on the appropriate response.
Merchants are looking for new indicators on the way to the central bank monetary policy on Tuesday to issue the US Consumer Price Index.
“In the short term, gold is likely to continue with the possibility of the dollar’s value. With the decline in geographical political risks, demand for safe heaven is reduced, so the yellow metal is reduced to the short -term ouns, to 200 3,200.
The instant silver price rose 0.4 per cent to $ 32.84 per OUNS, Platinum 0.7 per cent to $ 1001.90 and Palladium rose 0.6 per cent to $ 981.20.
