Gold dips as dollar gets boost from hopes for US-China trade deal

Gold dips as dollar gets boost from hopes for US-China trade deal

  • Gold price dipped down on Tuesday in a second straight session of losses, as the hopes in the US-China trade pact boosted the dollar.
  • The Spot gold was down 0.3% at $1,505.27 per ounce by 0318 GMT, while U.S. gold futures inched down 0.2% to $1,507.70 per ounce.
  • Beijing and Washington have shown signs of progress in trade talks with the Financial Times speech on Mon that the us is considering whether or not to drop some tariffs on Chinese merchandise.
  • A stronger dollar will make gold expensive for holders of other currencies.

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