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Gold prices rises with dollar decline and stock futures rise

2019-09-20 10:31 am | Resource: News | No Views : 59

 Gold  prices  rises with dollar decline and stock futures rise

Gold prices rose as investors shifted focus to trade negotiations between the United States and China, following a series of monetary policy decisions from central banks around the world this week. Talks between US and Chinese negotiators were held in Washington on Thursday - scheduled to end today - for the first time in two months in a bid to find common ground to pave the way for high-level negotiations in October.

 US stocks rise slightly after trade optimism

Wall Street shares traded with small gains ahead of the market on Friday in the hope that the United States and China will make progress towards resolving the ongoing trade war. The two countries resumed parliamentary-level negotiations on Thursday ahead of high-level talks next month. Meanwhile, the US will also announce temporary tariff exemptions for more than 400 Chinese products later today.

The United States will not remove tariffs on Japanese auto parts

In other news, Japan's Kyodo news agency reported on Friday that the United States does not plan to remove import duties on Japanese-made auto parts as part of the expected trade agreement. At the G7 summit in August, US President Donald Trump and Japanese Prime Minister Shinzo Abe agreed to a trade agreement "in principle." It is expected to be signed at the UN General Assembly on 25 September. Both countries agreed that digital products would not be subject to tariffs.
  • The Dow rose 0.08% in pre-market trading at 10:23 am CET
  • The Nasdaq 100 rose 0.11%.
  • The S&P 500 gained 0.09% at the same time.

The US dollar index, which tracks the greenback against the major currencies, was down 0.04% to trade at 98.33. The euro rose 0.13% against the dollar to sell at 1.10550 at 4:24 pm ET.

 Precious Metals Trading
  • Yellow metal futures rose 0.5% or $ 7.1 to $ 1513.3 an ounce,
  • Spot delivery rose 0.4% at $ 1505.48, heading for a weekly gain of about 1%, the first weekly gain in almost a month.
  • Palladium spot price climbed 0.9% to $ 1638 an ounce, breaking the previous record of $ 1635.55.

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