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Gold prices rise as US markets fall ahead of interest rate decision

2019-07-30 10:08 am | Resource: News | No Views : 33

 Gold prices rise as US markets fall ahead of interest rate decision

Gold prices rose on Tuesday in morning trading ahead of the Federal Reserve's rate cut. Amidst the development of trade negotiations amid Trump's threats to attack the granting of the status of developing countries to some WTO member countries, in a move aimed at China first. In a harsh response on Monday, Beijing condemned the "arrogance and selfishness" of the United States. Trump hinted Friday that China could deliberately prolong the negotiations until the next US presidential election in 2020, hoping the arrival of a president can be easily dealt with.

US markets decline before the market and initial data

Wall Street stocks fell slightly on Tuesday as investors awaited several earnings reports and key economic data. US Treasury Secretary Stephen Menuchin, who meets China's trade negotiating team and trade representative Robert Laitser, said House Speaker Nancy Pelosi had promised him to vote on the US, Mexico and Canada agreement in October. The US Senate has failed to override President Trump's veto in three resolutions banning the sale of arms to Saudi Arabia.

At the same time, markets widely expect the Federal Reserve to cut interest rates by at least 25 basis points this week. Some traders have previously speculated that the central bank would cut interest rates by 50 basis points, but the chances of this happening have dwindled after the United States. Second quarter GDP came in better than expected.
  • The Dow Jones Industrial Average was only 0.09% lower at 1030 am CET.
  • The Nasdaq 100 fell 0.19% ..
  • The S & P 500 fell 0.14% at 10:32 am CET.

The Euro was trading steady against the Dollar at 4:29 am EST, trading at $ 1.11452. Meanwhile, the pound fell 0.48% against the dollar to 1.21585.
  • Gold futures for delivery in August in the Comex section of the New York Mercantile Exchange rose 0.3% to $ 1424.30 by 11:45 am CET.


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