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Gold stabilize and heading to end weekly trading on gains

2019-11-01 08:45 am | Resource: News | No Views : 25

 Gold prices stabilize and are heading to end the weekly trading on gains

Gold settled flat for weekly gains after the Fed's rate cut and better-than-expected Chinese manufacturing data, with uncertainty over the possibility of a trade deal between Washington and Beijing.

 US stocks rise in pre-market trading

Wall Street shares rose on Friday in pre-market trade despite reports that the China-US trade deal is still in conflict.

China says it is in contact with US at Trump-Shi meeting

BEIJING (Reuters) - China is "in close contact" with the United States on organizing a meeting between Presidents Donald Trump and Xi Jinping, at which the two leaders plan to sign a first-phase trade agreement, the Chinese Foreign Ministry said on Friday. Ministry spokesman Geng Shuangli pointed out that the two sides have not yet decided a location, and pointed out that Macao's proposed reports as a meeting place "pure speculation." Jund said trade negotiations with Washington were "going well and smoothly."

Trump and Xi had planned to sign the Interim Trade Agreement at the APEC summit in Chile in November, but the event was canceled amid protests in the South American country. Trump noted that the new signing site for the first phase of the deal, which represents about 60% of the entire trade agreement, will be announced soon.

Meanwhile, profits continue to flow, as oil giants Exxon and Chevron are set to release their results later today. Investors were looking ahead to US nonfarm payrolls later in the day, with the economy expected to add 85,000 jobs in October after adding 136,000 in September, and the unemployment rate rose to 3.6% from 3.5%.
  • The Dow rose 0.20% or 53 points
  • The S&P 500 rose 0.22%.
  • The Nasdaq 100 rose 0.28% at the same time.

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