Gold Prices Fall as Uncertainty Over Sino-U.S. Trade Progress Continues


Prices of the safe-haven gold fell on Friday in Asia as traders continued to monitor Sino-U.S. trade news.

The U.S. Gold Futures fell 0.4% to $1,477.45 by 1:42 AM ET (05:42 GMT).

On Thursday, U.S. President Donald Trump said trade talks were "moving right along", pushing global equities higher.

Uncertainties over a deal remained, as the president’s comments this week sent mixed signals regarding the trade talk progress.

Trump said overnight that negotiations with China are going "very well” overnight, just one day after he dented hopes for a trade deal by saying that an agreement to end the trade dispute may have to be delayed until after the American presidential election in November 2020.

Meanwhile, U.S. Treasury Secretary Steven Mnuchin told reporters that negotiations between Washington and Beijing were progressing, without a deadline for conclusion.

On the data front, the latest U.S. job report due later in the day is expected to generate some attention.

Gold traders are also awaiting the upcoming U.S. Federal Reserve meeting, which is scheduled next week. The Fed is expected to keep rates on hold at 1.50-1.75%.

Source: www.investing.com