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(Reuters) – Gold prices fell on Wednesday after the United States postponed tariffs on some Chinese imports, easing trade concerns, although political uncertainty and lingering worries about global growth has helped limit the losses of the safe yellow metal.
At 0:45 GMT, it was down 0.3% to 1497.17 dollars an ounce.
US futures fell 0.2% to $ 1,510.70 an ounce.
"The easing of trade tensions and geopolitical risks has given the markets hope that has supported equities, and because of that, there is a brief decline in the price of gold," said John Sharma, economist at the National Bank of Australia.
"But the trade dispute remains unresolved – the geopolitical risks in Hong Kong and global growth trends as we expect at least another reduction (interest rates) by the Federal Reserve, all of these factors. support the gold. "
US President Donald Trump stepped down Tuesday's September 1 deadline to impose a 10% tariff on remaining imports from China, postponing tariffs on mobile phones , laptops and other consumer goods, in the hope of reducing the impact on US sales.
The postponement of the trade dispute between the two largest economies in the world eased financial markets dominated by political and economic turbulence, while Asian equities rallied on the rise in global equities on Wednesday.
At the same time, China's tightly watched industrial production rose in July at the slowest pace in more than 17 years, according to official data released on Wednesday, the latest sign of slowing demand as the United States intensified the commercial pressure exerted on Beijing.
The index has changed little in relation to a basket of major currencies on Wednesday, after rising 0.4% over the course of the night.
For other precious metals, it fell 0.3% to $ 16.91 an ounce, after peaking at a year and a half in the previous session.
It fell 0.8% to $ 845.50 an ounce and 0.5% to $ 1,447.74 an ounce.
(Prepared by Moataz Mohamed for the Arab Bulletin)
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