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Gold down 1%, Silver up

ByVictoria

Gold fell more than 1% on Tuesday as signals of easing U.S.-China trade tensions reduced some safe-haven demand, while investors braced for key economic data this week to gauge the Federal Reserve’s policy outlook.

Spot gold was down 1.2% at $3,300.57 an ounce as of 9:50 a.m. ET (1350 GMT). U.S. gold futures fell 1.1% to $3,310.20.

“There is some optimism that there will be some de-escalation of the trade war between the U.S. and China,” said David Meger, director of metals trading at High Ridge Futures.

“We’ve seen the equity markets rebound over the course of the last several sessions. So there’s been a bit of a lesser need for safe havens like gold.”

Spot silver rose 0.1% to $33.2 an ounce, platinum eased 0.3% to $983.26 and palladium lost 0.8% to $941.51

Source – Reuters

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    More Info!

    Rs (abbreviated) is a financial term that you may or may not be familiar with. I have 2 descriptions for this abbreviated term. Rs stands for Relative Strength.

    • A strategy used in momentum investing and in identifying value stocks. It focuses on investing in stocks or other investments that have performed well relative to the market as a whole or to a relevant benchmark.
    • (In stock) a technical analysis indicator that measures the performance of a stock relative to a market index or another stock.
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    Gold fell 2% on Thursday, hitting a near one-month low, after a U.S.-China trade agreement boosted risk appetite and diminished bullion’s appeal as a safe-haven asset.

    Spot gold fell 2% to $3,261.28 per ounce by 0934 a.m. EDT (1334 GMT), its lowest level since May 29. Bullion was down for a second straight week, slipping 3.2% so far

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    Palladium fell 0.8% to $1,122.77, but was headed for weekly gains. Platinum eased 6.5% to $1,325.48, and headed for a fourth consecutive weekly rise.

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