Gold Slips Lower Even as US-China Trade Tensions Remain High

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.

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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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