Gold prices fall as trade tensions ease By Investing.com
© Reuters. Investing.com – Gold prices traded lower on Friday because the ease of US and Chinese trade tensions, along with other positive signs, drove investors to riskier assets.
for December delivery was down 0.09% to $ 1,523.85 an ounce on the New York Mercantile Exchange's Comex division by 10:48 ET (2:48 GMT), falling from this week's high of $ 1,564 , 15.
Risk appetite revived after trading talks are scheduled to resume in early October. China's Ministry of Commerce confirmed Beijing and Washington officials agreed to do so in a phone call this week.
Stronger US economic data also supported the shift to riskier assets. Private pay rose by 1[ads1]95,000 in August, higher than the expected 140,000 bump that economists surveyed by Jones had expected. It suggested that the economy had moderate growth despite trade tensions and rebuffed the fear of a recession.
Developments in Hong Kong this week also played a role in balancing demand for the safe harbor method. The government formally announced the withdrawal of the highly controversial bill that has caused social unrest for over two months.
Despite losses today, gold prices have continued to rise by more than 20% this year. Investors have turned to the yellow metal for fear of how the trade war will worsen and how the Brexit plan will unfold in the UK
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