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Gold was settled on Friday, but is heading towards the worst monthly performance since August 2018, with the dollar and stocks advancing mainly, while the palladium rallied after a string of losses in August. three days caused by strong sales. At 6:20 am GMT, the spot gold was set at $ 1,290.00, after dropping nearly 1.5% in the previous session, the largest decline since more than seven months.
The metal is heading for the first weekly decline in four weeks and has lost about 1.7% since the beginning of the month. But on a quarterly basis, gold is on track for a second consecutive rise, due to the Federal Reserve's (Fed) tone of monetary easing and concerns over the slowdown in the global economy. .
Gold futures futures fell 0.1% to 1288.70 dollars an ounce.
The dollar is heading for the biggest monthly gain in five months, while Asian stocks have advanced on the hope that Washington and Beijing will progress in trade negotiations.
The world 's two largest economies began Thursday a new round of negotiations to end a one – year trade war.
At the same time, palladium rose 0.7% to $ 1,857.68 an ounce today, after a two – month low reached in the previous session.
The metal, used in the automotive transformer industry, fell 6.6% on Thursday, representing the largest decline since January 2017 and was heading toward the worst weekly performance since November 2015, with fears of a slowdown. a slowdown in global economic growth led to strong sales.
On a monthly basis, palladium is heading for its biggest decline since the end of 2016.
For other precious metals, silver was established at 15.02 dollars an ounce, while platinum rose by about 0.5% to 841 dollars a year. ounce.
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