Gold Trading Bearish on Improving Market Sentiment Over Trade Deal, Brexit Developments - Forex News by FX Leaders
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Gold Trading Bearish on Improving Market Sentiment Over Trade Deal, Brexit Developments

Posted Tuesday, October 22, 2019 by
Arslan Butt • 1 min read

Gold is trading bearish into Tuesday as Trump’s positive comments on the ongoing discussions towards an interim trade deal lifted the mood in the financial markets. At the time of writing, GOLD is trading at a little above $1,484.

The risk appetite is back in the markets after Trump confirmed that negotiations were proceeding well. US Trade Representative Robert Lighthizer also remarked to the media that the trade teams are working hard to finalize the phase one trade deal by the APEC summit in Chile taking place around mid-November.

Hopes for a Brexit deal are also keeping gold prices under pressure lately. Although the UK Parliament failed to vote the latest Brexit deal reached between PM Boris Johnson and the EU, expectations are high than the government could turn the Brexit deal into a law within the next three days.

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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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