11 C
New York
Friday, March 24, 2023

Gold Prices Fall as Risk Appetite Improve on Positive Trade News

Gold Prices Fall as Risk Appetite Improve on Positive Trade News© Reuters.

Investing.com – Gold prices fell on Thursday in Asia as investors’ appetite for risk assets improved following more positive news on the trade front.

In , gold’s benchmark April contract on the Comex division of the New York Mercantile Exchange was down 0.3% at $1,311.05 per ounce by 1:45 AM ET (06:45 GMT).

Gold prices fell as traders awaited the outcome of trade negotiations in China led by U.S. Treasury Secretary Steven Mnuchin and Trade Representative Robert Lighthizer.

Chinese President Xi Jinping and Vice Premier Liu He are scheduled to meet a U.S. delegation that includes Lighthizer and Mnuchin in Beijing on Thursday and Friday.

On Thursday, Bloomberg reported that U.S. President Donald Trump is considering extending the March 1 deadline for a tariff increase by 60 days.

Separately, Trump told reporters on Wednesday that trade talks are making good progress. “I think it’s going along very well,” said Trump. “They’re showing us tremendous respect.”

In recent days, both the greenback and the precious metal have seen choppy moves as investors reacted to Trump’s decision at first to forego a summit with Chinese President Xi Jinping, then express his continued desire to strike a deal with China.

The that tracks the greenback against a basket of other currencies was trading near flat at 96.917.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles

Stay Connected

- Advertisement -

Latest Articles

Popular Articles