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Gold prices fall, trade deal soon

ByVictoria

Gold prices fell on Thursday, reversing earlier gains, as U.S. President Donald Trump hinted at a potential trade deal with Britain, easing trade tensions and reducing the precious metal’s appeal as a safe-haven investment.

Spot gold was down 0.7% to $3,342.22 an ounce, as of 1157 GMT. U.S. gold futures slipped 1.3% to $3,347.90.

“As it becomes confirmed that there is some sort of trade deal in the wings that could help to firm up the dollar a bit and take some of the steam off of gold,” said Nitesh Shah, commodities strategist at WisdomTree.

Spot silver eased 0.2% to $32.40 an ounce, platinum gained 0.6% to $979.91 and palladium fell 0.2% to $970.91.

Source – Reuters

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