Thursday , November 14 2019
Home / uae / Gold is well on its way to achieving its lowest weekly decline in two and a half years

Gold is well on its way to achieving its lowest weekly decline in two and a half years



Business and finance

Gold is well on its way to achieving its lowest weekly decline in two and a half years

reuters

Gold prices are heading towards the biggest weekly decline in two and a half years

Gold prices led to the largest weekly decline on Friday in two and a half years, in the face of optimism about the Beijing-Washington trade agreement.

Until 05:17 GMT gold was sold in spot transactions at US $ 1468.86 per ounce, almost unchanged, heading for the largest weekly decline since May 2017.

In the previous session, prices fell by 2 percent to the lowest level in over a month.

Optimism over the US-China trade deal increases risk appetite, limiting the demand for precious metal, but the deal faces sharp internal opposition in the White House because of concerns about whether lifting tariffs will dissipate US influence in negotiations.

Gold prices have risen by more than 14 percent since the beginning of the year, mainly due to the trade war between Washington and Beijing, which raised concerns about a slowdown in the global economy.

Source: Reuters


Source link