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Gold retreats as risk appetite rises early in the week

2019-08-19 08:49 am | Resource: News | No Views : 23

 Gold retreats as risk appetite rises early in the week

Gold prices fell on Monday as the dollar stabilized after the US president dismissed concerns about the US recession, as well as optimism about trade negotiations between the world's two largest economies. Gold has risen more than 6% since the beginning of August, or about $ 90, due to increased trade tensions and ongoing buying by central banks in response to a plethora of disappointing economic data globally.

 The Dow jumps over 200 points in pre-marketing

Wall Street pre-market trading saw the depth of stocks in positive territory on Monday after a volatile week of stocks. Over the weekend, President Donald Trump played down recession fears, claiming that the US economy still outperformed others, noting that the Chinese economy is struggling with tariffs and wants to do business with the United States. He said talks with China on the trade deal were progressing.

In the same context on trade tensions between the world's two largest economies, US President Larry Kudlow's chief economic adviser said recent phone calls between US negotiators and China have yielded "positive news."

The minutes of the July Fed meeting are expected to be released on Wednesday, along with the Jackson Hole retreat on Thursday through Saturday, and Chairman Jay Powell's speech on Friday on gold price action this week.
  •  The Dow rose 240 points at 10:15 am CET.
  • The S&P 500 jumped 0.91% at 10:15 am CET.
  • The Nasdaq 100 rose 0.94% at 10:15 am CET.

The euro rose 0.14% against the dollar, with the euro trading at 1.11056 levels. At 10:15 am CET.

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