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Gold Falls on Risk Appetite Improvement

2019-01-08 12:56 pm | Resource: News | No Views : 110

 Gold prices fell slightly on Tuesday as hopes for the US-China trade agreement and cautious comments from Federal Reserve Chairman Jerome Powell boosted investors' appetite for risk. Where Federal Reserve Chairman Paul Powell said last week that the US central bank will be more data-driven and control its interest rate policy.

Wall Street's rise on the stock exchange amid US-China trade talks

US stocks rose in pre-sale trading on Tuesday as the world's two largest economies continued their two-day round of talks aimed at easing trade tensions. Liu Hu, a senior aide to Chinese President Xi Jinping, was also reported to have participated in the talks, a move taken as a sign of openness to solutions that would end the trade dispute.

US Commerce Secretary Wilbur Ross said on Monday there was a very good chance that Beijing and Washington would reach a trade agreement "we can live with." But some analysts remain skeptical of a breakthrough.

At the same time, there are expectations that the Fed may not be in a position to raise interest rates at all during 2019 because of the worsening global economic outlook.
  • The Dow Jones Industrial Average rose 0.64% in pre-sell trading at 15:32 am in central Europe,
  • While the Nasdaq 100 rose 0.51%.
  •  While the S & P 500 rose 0.61%

The Dollar rose against its peers as investors watched the ongoing discussions between the US and China. At the same time. The Euro lost 0.26% against the US Dollar, turning to 1.1461.
Gold Trades
  • Spot gold rose slightly to $ 1283.06 an ounce.
  • Gold futures in the US fell 0.45% to $ 1,284.05 per ounce.

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