<\/p>\n
Gold futures slipped slightly lower Wednesday, pulling back from a one month high, as investors weighed a recent report that trade talks between Beijing and Washington are progressing against President Donald Trump\u2019s comments that he could delay a partial resolution until after the 2020 presidential elections.<\/p>\n
Bloomberg News<\/a> reported early Wednesday that a Sino-American trade pact was close to coming to fruition and that details on a partial roll back of import duties was being discussed, despite recent rhetoric that suggested that the tensions between the parties was becoming inflamed. <\/p>\n Gold for February delivery
The fresh reports come after Trump on Tuesday said <\/a>it might be preferable to hold off on completing a long-awaited U.S.-China trade deal until after the November 2020 presidential race. <\/p>\n The developments around trade come ahead of a Dec. 15 deadline for the imposition of fresh import tariffs on China. <\/p>\n Gold has benefited from lower yields in government debt, like the 10-year Treasury note
Still, the uncertainty surrounding a trade deal, even in the face of Wednesday\u2019s optimism, has tempered the enthusiasm for gold bears. <\/p>\n \u201cAppetite towards the precious metal is likely to receive a boost if Washington moves ahead with the tariff hikes on December 15. Brexit and global growth concerns are also seen as other risks which may push the precious metal higher in December,\u201d wrote the research team at FXTM in a daily research note.<\/p>\n \u201cFocusing on the technical picture, Gold is bullish on the 4-hour timeframe with prices trading around $1480 as of writing. Upside momentum could push prices towards the $1492 level in the short to medium term.,\u201d FXTM analysts wrote. <\/p>\n \u201cGold still offers up the cheapest hedge against a significant drop in equity markets, and it makes sense given the Fed\u2019s responsive nature to toggle the rate cut lever,\u201d wrote Stephen Innes, chief Asia market strategist at AxiTrader, in a Wednesday report. <\/p>\n<\/p><\/div>\n [ad_2] [ad_1] Gold futures slipped slightly lower Wednesday, pulling back from a one month high, as investors weighed a recent report that trade talks between Beijing and Washington are progressing against President Donald Trump\u2019s comments that he could delay a partial resolution until after the 2020 presidential elections. Bloomberg News reported early Wednesday that a Sino-American […]<\/p>\n","protected":false},"author":348,"featured_media":1561,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-1560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=1560"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1560\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/1561"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=1560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=1560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=1560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n GCG20, -0.11%<\/span><\/a><\/span>
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\n \u00a0on Comex lost $2.70, or 0.2%, at $1,481.70 an ounce, after jumping 1%<\/a> to the highest settlement for a most-active contract since Nov. 6, according to FactSet data. March silver
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\n SIH20, -0.08%<\/span><\/a><\/span>,
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\n meanwhile, shed 3 cents, or 0.2%, to trade at $17.215 an ounce, following a 1.7% surge in the previous session.<\/p>\n
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\n TMUBMUSD10Y, +1.80%<\/span><\/a><\/span>
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\n \u00a0at around 1.75%, and softness in the U.S. dollar, as measured by the ICE U.S. Dollar Index
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\n DXY, -0.06%<\/span><\/a><\/span>,
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\n because lower rates can reduce the opportunity cost of owning gold versus the perceived safety of government paper and a weaker buck can make dollar-pegged bullion more attractive to buyers using other currencies. <\/p>\n
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