Gold Slips Lower Even as US-China Trade Tensions Remain High
Arslan Butt • 1 min read
Gold prices are trading weaker at the start of a new week and month early on Monday, falling from a weekly high on account of positive manufacturing data from China. At the time of writing, GOLD is trading at a little above $1,459.
Despite trade uncertainty dominating the market sentiment, gold has been trading under pressure in recent times as global stock markets have been ticking higher. On Monday, a strengthening in the US dollar has also driven gold prices lower.
Latest news reports suggest that the US=China phase one trade deal has possibly stalled because of the US’s latest decision to enforce laws supporting the human rights of anti-government protesters in Hong Kong. Late last week after US President Donald Trump signed these two bills into laws, China vowed to retaliate against the US for its interference.