Gold Slips Lower Over Optimism on US-China Trade Talks - Forex News by Strategia Forex
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Gold Slips Lower Over Optimism on US-China Trade Talks

Posted Monday, September 23, 2019 by
Arslan Butt • 1 min read

Gold prices are trading lower early on Monday over optimism in global markets following the trade talks between US and China last week. At the time of writing, GOLD is trading at a little above $1,515.

According to the most recent comments from the US Trade Representative’s office, the trade talks between the Deputy-level teams was “productive”, and this has given markets a boost in hopes of a trade deal and possible resolution of the trade war. China’s Commerce Ministry has also termed the discussions “constructive”.

Optimism surrounding US-China trade talks has reduced gold’s safe haven appeal. However, gold continues to remain supported over rising tensions in the Middle East following the drone attacks on Saudi Aramco’s crude processing facilities. Recent news reports reveal that the US has deployed additional troops to boost Saudi’s air and missile defences.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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