The Gold reversed its trend on Thursday after reports on the possible signature of a commercial agreement between US President Donald Trump and the United Kingdom, which affected the feeling of the market, while investors expect the result of commercial conversations between the US. UU. And China this weekend.
Cash gold fell 0.8% to $ 3,336.49 the ounce, at 0618 GMT. The metal had risen more than 1% earlier in the session.
Gold futures in the US lost 1.5% to be $ 3,342.40.
Trump is expected to announce a commercial agreement between the US and the United Kingdom on Thursday, the New York Times reported Wednesday.
“On the commercial front, any unfortunate of the commercial war and the decrease in uncertainty would be negative for yellow metal. If the US announces a commercial agreement with the United Kingdom, it would be positive for the global economy in general,” said Jigar Trivedi, a senior analyst of raw materials in Reliance Securities. [MKTS/GLOB]
Trump also suggested that China was the one who started the next high -level trade negotiations between the two countries and said he is not willing to reduce tariffs on Chinese imports to take Beijing to the negotiating table.
Meanwhile, the Federal Reserve maintained the stable interest rates on Wednesday, but warned that the risks of greater inflation and unemployment have increased, while their monetary policy managers deal with the impact of tariffs imposed by President Trump.
“In our opinion, the Fed could cut the rates at the September meeting and not before,” said Trivedi.
The ingot, which does not offer performance, is considered a refuge against political and financial turbulence, and usually benefits in an environment of low interest rates.
In another order, India on Wednesday attacked positions in Pakistan and Pakistani Kashmir for the murders of tourists that occurred last month in Kashmir. Pakistan promised reprisals and claimed to have demolished five Indian aircraft.
“If the tension continues to climb, we could see that gold continues to rise and even exceeds the previous one we have seen,” said Brian Lan, general director of Goldsilver Central, Singapore.
The ingot reached a historical maximum of $ 3500.05 on April 22.
The money in cash fell 0.1% to $ 32.43 the ounce, the platinum rose 0.2% to $ 975.75 and the paladium fell 0.9% to $ 963.26.
