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Gold prices fall with fears of renewed trade tensions

2018-12-06 10:28 am | Resource: News | No Views : 43


 
Gold prices continued to fall on Thursday as the dollar rose amid concerns over the future of US-China trade relations. Because of the tensions accompanied by the arrest of the financial director of China's Huawei in Canada and seeking to hand over to the United States and to ask China to release her

While the dollar stabilized relatively against the currencies after the release of a report from the Federal known as Beige Book.

Federal: Growth remains modest to moderate

From mid-October to late November, new home construction and existing home and apartment sales fell or remained stable, the US Federal Reserve said Wednesday in its eighth and final periodic report this year.

The report also highlighted the stagnation or increase in construction and leasing in the non-residential sector, while acknowledging that consumer spending is "fixed". Combined data from the twelve provinces showed the expansion is still modest or moderate.

"In general, lending volumes have grown modestly, although some provinces have noticed some slowdown, agricultural conditions and agricultural incomes have been mixed; some provinces have noted the effects of heavy rains and tariffs,

Policymakers have also written and stressed that the labor market "tightened" more widely the shortage of skilled workers. But respondents said the wage increase "tends to the higher side of the modest to moderate pace."

The dollar index, which measures the performance of the greenback against a basket of six currencies, rose 0.2% to 97.2.

Precious metals trading

  • Gold futures for February delivery fell 0.2% to $ 1240.6 an ounce, at 10:20 am CET,
  • The gold  spot delivery price also fell 0.13% at $ 1235.6.
  • Palladium fell 2.7% to $ 1209.3 an ounce, after rising yesterday and surpassing the price of gold for the first time in 16 years


Other analysis

OIL Technical analysis 14 December 2018

Time frame Used - four hours Oil is moving in a sideway direction in the near term. Oil is still facing resistance and selling pressure around levels of 52.66 - 54.54. In view of the technical indicators Both the RSI and Stochastic are indicating to weakness of the indicators. Therefore, we expect that the oil will test the level of 50.00 dollar, which by breaking it down will target the…

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