Gold Fell To Its Lowest Level In Five Weeks

Gold prices have stabilized near five-week lows on Tuesday as US Treasury yields continue to boost demand for the US dollar.

Wall Street futures rise as talks between the United States and China continue

US stocks traded with gains in the primary market on Tuesday as investors continued to monitor ongoing trade talks between the United States and China. Yesterday negotiations were reported in the "final stages", while a summit between Donald Trump and Xi Jinping was scheduled for the end of the month in Mar Lago in order to finalize the agreement. However, US Secretary of State Mike Pompeo warned that negotiations "could finally collapse at the last minute."

On the data front, US housing starts and building permits are due to be released ahead of today's opening bell, while the US Composite Purchasing Managers Index and ISM will be released after markets open for trading.

  • The Dow Jones Industrial Average rose 0.26% at 12:28 CET.
  • While the Nasdaq 100 rose 0.18% at the same time.
  • Meanwhile, the S & P 500 rose 0.19% to remain in the green zone in pre-sale trading.

The dollar rose amid optimism over a possible trade deal between the United States and China after US Secretary of State Mike Pompeo said trade talks with China aimed at ending tariffs on hundreds of billions of dollars of products would be successful. Chung Shan said that trade talks with the United States were "very difficult and time-consuming" because of the great differences between the two countries.

Gold Trading

  • Spot gold fell 0.1 percent to $ 1,285.08 an ounce, after hitting a 25-year low of $ 1.282.50 in the previous session.
  • Gold futures in the US fell 0.15 percent to $ 1.285.75 an ounce.

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