Gold Edges Lower Amid Trade Deal Hopes, Risk Appetite
Gold edges lower in the early Asian session. "It looks increasingly likely the U.S. moved closer to trade deals with China and other key trading partners," TD Securities' Bart Melek says in a research report.
Also, the Iran-Israel cease-fire is reviving risk appetite, the head of Commodity Strategy says. "While we judge that gold may still move lower, a deep rout is not expected as we see firm technical support at plus/minus $50 of $3,100/oz," Melek adds.
Spot gold is 0.2% lower at $3,267.43/oz.
Source: MarketWatch