Gold Marks 10-month Highs On US-China Trade Talks Optimism

Gold Marks 10-month Highs On US-China Trade Talks Optimism

$GLD, $USD

Gold prices rose to 10-month highs Tuesday, as USD weakened, on optimism for a breakthrough in US-China trade talks, bullion also saw support as a safe-haven asset due to concerns over global growth.

  • Spot gold +0.9 at $1,338.21 oz
  • US gold futures +1.44% at $1,341.20 oz

A gauge of global stock markets rose modestly, although gains were hemmed in by concerns in Europe a car tariff could hurt the region’s exports to the United States.

Worries over a possible global economic slowdown buoyed gold prices. The World Trade Organization (WTO) warned of sluggish trade as a leading indicator of world merchandise trade hit its lowest reading in 9 years.

A new round of talks between the United States and China to resolve an extended trade dispute are happening place in Washington Tuesday, with follow-up sessions at a higher level later this week, following a round of negotiations in Beijing last week.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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