Gold Price News and Forecast: Gold bleeds on trade optimism, drops 2.5% in GBP terms
|Gold bleeds on trade optimism, drops 2.5% in GBP terms
Gold is losing altitude in Asia as investors are buying risk and selling safe havens on trade optimism. The yellow metal, a classic safe-haven asset, is currently trading at $1,464 per Oz, having hit a five-week high of $1,487 in the overnight trade.
The pullback could be associated with the tweet by President Donald Trump that Washington was “very close” to a trade deal with Beijing. A report that US trade negotiators offered to cancel a new round of tariffs on Chinese goods further boosted the risk appetite.
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