Gold And Oil Affected By Trade Deal Delay – 20 November, 2019

A concern over a delay in a trade deal between the U.S. and China has caused a lot of uncertainty in multiple markets and has been a main driver in price changes. Gold prices were steady, with spot gold last trading at $1,471.02 per ounce, and U.S. gold futures last trading 0.2% lower to $1,471.20 per ounce. The announcement of the unlikelihood of an agreement before the end of the year has also caused oil prices to take a hit after making significant gains the previous session. International Brent crude futures dropped 20 cents to $62.20 per barrel, down 0.32%. U.S. West Texas Intermediate crude futures shed 17 cents to $56.84 per barrel, down 0.3%. Uncertainty over the future of the global economy as well as an increase in U.S. stockpiles and trade tensions have all contributed to the consistently changing prices of the commodity over the last few months.