Talks of Trade Truce Causes Gold To Hover Near One Month Low – 7 November, 2019

As the U.S. agreed to roll back tariffs on Chinese goods, gold dipped to just above the one month low hit the previous session with investors looking to riskier assets. U.S. gold features gained slightly, up 0.2% to $1,469.60 per ounce. After hitting its lowest level in a month, spot gold was steady at $1,467.92 per ounce. The trade negotiations come after 16 months of back-and-forth threats by the worlds two biggest economies, though many investors are still skeptical about the chances of an agreement being reached. Gold prices saw an increase of over 14% this year, with the ongoing trade war causing an unpredictable economy and a fear of a global slowdown.