Gold Futures Rise After Thursday’s Decline
Gold prices rose in early trading amid a weaker U.S. dollar, following a 1% decline in the previous session. Futures were up 0.8% at $3,331.50 an ounce. Progress in global trade negotiations after the U.S. announced a deal with Britain and ahead of a thaw-out meeting with China have eased demand for safe-haven assets in recent days.
However, market watchers said investors were wary of the limited scope of the U.K. agreement and were looking at the upcoming meeting between Washington and Beijing with cautious optimism, as negotiations could be long and drawn out. “Sentiment is still fragile,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.
Source: Bloomberg