Gold prices fell slightly as the dollar index stabilized amid uncertainty about trade tensions. The Wall Street Journal noted that global trade disputes could not be resolved anytime soon.
Wall Street is retreating ahead of the opening bell, led by the technology sector
The dollar weakened slightly on Thursday and stocks fell in pre-market trading in the US, while gold in the red zone was in contrast to other precious metals. Technology companies were the hardest hit after reports that bilateral negotiations between the administration in Washington and China had once again blocked the wall over differences over Huawei's status. In addition, we have blundered its goal of growing subscriptions.
Investors are studying the possibility of a 25 basis-point cut in the Federal Reserve by the end of the month.
It should be noted that manufacturers in Europe began to publish surprisingly pessimistic numbers for the second quarter. German software maker SAP disappointed quarterly figures and issued a profit warning. Japan's trade balance showed strong declines in both exports and imports. Treasuries were little changed as the focus shifted increasingly to the Fed meeting at the end of the month.
Meanwhile, the dollar index, which measures the performance of the greenback versus a basket of six currencies, stabilized at 97.1 points. The euro was up 0.13% at $ 1.1239 and the pound was up 0.4% at $ 1.24832. The dollar was down 0.2% at 107.733 yen.
- The Dow Jones Industrial Average was down 0.26%.
- The technology-rich Nasdaq 100 fell 0.64%.
- The S & P 500 lost 0.34%.
Gold Price Trading
- Gold futures fell marginally to 0.1% at $ 1422.5 an ounce after rising Wednesday to $ 1423.3, the highest close since May 14, 2013.
- The spot delivery rate fell 0.4% to $ 1420.65, at 9:48 am CET.
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