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Gold edged off an early two-week low yesterday as cautious traders awaited further developments in the trade negotiations between the United States and China, though a firm equities market kept a lid on bullion’s gains.
Spot gold was up 0,2 percent at $1 457,58 per ounce at 1046 GMT, having earlier touched its lowest since November 12 at $1 451,15. US gold futures inched 0,1 percent higher to $1 457,50.
“We are stuck in a relatively tight range between $1 450 and $1 475 and are basically just awaiting further developments (in trade talks),” said Saxo Bank commodity strategist Ole Hansen.
“There is some fatigue in the market,” he said.
“Yes, they (the US and China) are talking, and yes, they are trying to give a positive spin to it, but we’re still missing the actual deal.” — Reuters.
Online Reporter