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Gold prices drop with positive reports on trade negotiations

2019-11-07 11:41 am | Resource: News | No Views : 29

Gold prices drop with positive reports on trade negotiations

Gold prices fell on Thursday after China and the United States were said to have agreed to eliminate tariffs on each other's goods to reach a "first phase" trade deal. The Dow rose nearly 130 points in pre-market trading on Thursday amid fresh news from Beijing that China and the United States have agreed to phase out existing trade tariffs.

US Stock Futures
  • The Dow Jones industrial average rose 0.37%, or 102 points. At 11:47 am strengthening Central Europe.
  • The Nasdaq 100 rose 0.60% at the same time
  • The S&P 500 rose 0.43% in pre-market trading.

 China mulls removal of US poultry import limits

China's Ministry of Agriculture and Rural Affairs is analyzing the possibility of abolishing its previously imposed limits on imports of poultry from the United States, Xinhua news agency said Thursday. The reported move came a few hours after the Chinese Ministry of Commerce announced that in order to conclude the full trade agreement, tariffs between Beijing and Washington should be eliminated "simultaneously and proportionately."

The first phase of the deal is likely to be delayed until December, as officials in Washington are still looking for a date and venue for a meeting between the presidents of the two countries, it said yesterday.

Report: China to announce new plan to attract IPOs

China is working on a new system to attract lists of lucrative technology companies in the country, the Wall Street Journal reported, citing sources familiar with the plans. These new rules, which are expected to be issued in the next few days, will facilitate the domestic listing of both foreign and Chinese companies established abroad. One proposal would lower the threshold of market value of technology companies to 100 billion yuan or less. "The threshold of 200 billion yuan last year kept many high-quality enterprises," the sources said.

Gold trading
  • Spot gold fell 0.4 percent to $ 1,484.95 an ounce at 12 CET.
  • US gold futures fell half a percent to $ 1,485.95 an ounce.


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