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Gold prices down after trade truce

ByVictoria

Gold prices have fallen almost 10% from a record high just above $3,500 per ounce in April as a de-escalation in U.S.-China trade tensions punctured momentum, but analysts are sticking with a bullish outlook due to strong underlying support for the metal.

Spot gold was trading around $3,180 an ounce on Friday, leaving prices on track for their worst week in six months.

“Gold prices are more likely to rise than to fall from this stage onwards as other factors like central bank demand and very strong investor demand from China are not going away anytime soon,” said Nitesh Shah, commodities strategist at WisdomTree.

Source – Reuters

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    Gold prices, Silver gained

    ByVictoria
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    Gold prices rose to a two-week high on Tuesday, supported by post-holiday buying from China and concerns over potential U.S. tariffs on pharmaceutical imports, while investors await the outcome of the Federal Reserve’s policy meeting.

    Spot gold was up 1.9% at $3,395.94 an ounce at 1200 ET (1600 GMT). Earlier in the session, prices rose around 2% to the highest since April 22, when they hit a record high of $3,500.05/oz.

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    ByVictoria
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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.

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    ZiJin Mining – is a Shanghai stock exchange and Hong Kong stock exchange engaged in prospecting, exploration and mining of gold, copper and other mineral resources in 11 countries.