09/4/2018

Gold Prices Slip as Dollar Firms Despite Trade War Fears

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Gold Prices Slip as Dollar Firms Despite Trade War Fears


Gold prices slipped as the dollar strengthened on signs of easing tensions between the United States and North Korea, although the U.S.-China trade spat continued to be a concern. The U.S. confirmed that North Korean leader Kim Jong-un is willing to talk to President Trump about denuclearize, which implied easing geopolitical tensions in East Asia that improved investors’ risk appetite. The dollar fluctuated in Asia on Monday morning. The U.S. dollar index that tracks the greenback against a basket of six major currencies last stood at 89.87, testing the 90 level after climbing up from the morning low at 89.83. Dollar-denominated assets such as gold are sensitive to moves in the dollar – a gain in the dollar makes gold more expensive for holders of foreign currency and thus decreases demand for the precious metal.


Source: Investing

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Tags:Gold And Silver, Commodity News

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