Gold Stability After The Second Part Of Powell Testimony

Gold held steady in European trading on Thursday, a day after Federal Reserve Chairman Jerome Powell said he would soon announce a plan to stop curbing the central bank's current budget of about $ 4 trillion.

China: Korean decision can not be achieved overnight

On the other hand, traders continued to change the summit table between US President Donald Trump and North Korean leader Kim Young-On and the White House announcement that the two sides had not reached an agreement.

In this context, Chinese Foreign Ministry spokesman Lu Kang told reporters on Thursday, shortly after the second summit between US President Donald Trump and North Korean leader Kim Jong-un, that the experience of the past 50 years meant that the solution of the Korean Peninsula issue could not be achieved Overnight. Finished without a deal.

Lu said Beijing would assess the outcome of the summit in Hanoi only after "hearing official voices" from both North Korea and the United States. The spokesman also expressed his country's hope that Washington and Pyongyang would continue "to conduct a dialogue to solve problems, respect legitimate concerns of each other and continue to show mutual sincerity".

On the level of trade negotiations

Meanwhile, US Trade Representative Robert Lighthizer said the trade deal being negotiated with China would include a complex mechanism and regular consultations with Beijing to safeguard US rights in tariff increases if the other side fails to comply.

"The United States will take a decision to officially abandon the plan to increase tariffs on imports of Chinese goods worth 200 billion dollars to 25% from 10% currently. In his testimony to the US Congress, Lighthizer stressed that further decisions are needed and more efforts are needed to reach a trade agreement with China.

Dollar and Gold Index

  • The dollar index - which measures the performance of the greenback against a basket of six currencies - stabilized at 96.1,
  • Gold futures for April delivery settled at $ 1320.8 an ounce,
  • Gold prices for immediate delivery stabilized at $ 1319.9.

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