Gold prices fall as worries about a trade war ebb

Gold prices fall as worries about a trade war ebb
    Gold prices fall as worries about a trade war ebb
    Gold prices fall as worries about a trade war ebb, Gold prices fell on Monday from a five-week high earlier in the session on profit-taking as concerns over a US-China trade war eased following reports of negotiations between two of the world's biggest economies.

    By 0836 GMT, spot gold fell 0.1% to $ 1346.01 an ounce.

    Earlier in the session, gold prices rose to $ 1350.76, their highest level since Feb. 19.

    Gold futures for April delivery fell 0.3% to $ 1346.3 an ounce.

    The market watchers caught the breath when the Wall Street Journal reported that the United States and China had secretly begun negotiations to improve US companies' entry into Chinese markets.

    "In a letter last week, the United States asked China to reduce tariffs on US cars, buy more US semiconductors and allow greater presence of US companies in China's financial sector," the paper said, quoting unnamed sources.

    The rise in the Saudi stock market and the diversification of the Middle East stock exchanges
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    News of the US-China talks eased concerns over a trade war and pushed global equities higher as US futures futures rallied.

    Gold is seen as a store of value during times of political and financial uncertainty.

    For other precious metals, spot silver rose 0.2% to $ 16.55 an ounce, platinum rose 0.3% to $ 949.80 an ounce, and palladium dropped 0.1% to $ 976 an ounce.
    Wael Elyamani
    @Posted by
    writer and blogger, founder of CTV Egypt News .

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