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Gold prices eased yesterday as expectations of positive trade talks between the United States and China bolstered risk appetite, while investors booked profits.
Spot gold slipped 0,2 percent to US$1 453 per ounce, extending declines into a fourth straight session. US gold futures also dropped 0,2 percent to US$1 454 per ounce. World markets edged higher yesterday as investors awaited a speech by US President Donald Trump on trade policy, following news he will probably delay a decision on whether to slap tariffs on European autos. EU officials said Trump was expected to announce this week he was delaying the tariff decision on cars and auto parts imported from the European Union likely for another six months, also boosting expectations about the president’s speech later in the day about the long-drawn trade war with China.
“(The trade talks are) probably going to end in a truce, but that could change with a tweet. So we will continue to have that nervousness in the background,” said ABN Amro analyst Georgette Boele, adding that gold’s dip was largely due to profit-taking. — CNBC.
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