Gold Value Affected by US & China Trade Negotiations

Samuel OskysSamuel Oskys13/11/20192min
Due to concerns of a delay in the long-awaited trade deal between China and America, gold continues to be affected.

Following this potential delay, US gold futures were down 0.1 percent at $1,491.70 per ounce.

Recently a senior official of the Trump administration informed Reuters that a deal between US President Donald Trump and Chinese President Xi Jinping could be delayed until December as talks about terms and value continue.

China has been pressuring Trump to remove extra tariffs that were implemented in September as apart of a “phase one” deal.

The trade war has now been ongoing for 16 months sparking fears of a global economic slowdown. Asian shares paused near multi-month peaks, while bonds gained due to reports of delays leaving investors in the dark due to a lack of concrete evidence.

Yields on benchmark US 10-year notes fell back to 1.82 percent from a two-month top of 1.87 percent.

Gold prices have been choppy this week amid the trade conflict ad tensions between China and the US rise.

Despite this Charlie Evans, Chicago Fed President informed reporters that the U.S economy is still in a good place. However, he said he would be looking at inflation in deciding what the future stance of monetary policy should be.

This year the Fed has cut interest rates for the third time this year in an effort to boost the economy due to fears of the effect of the trade war.

The ongoing war continues to cause disruption for many with the US-China trade was affecting Singapore.

 

Samuel Oskys

Samuel Oskys

Sam Oskys is a British born technology enthusiast, automotive lover, artist, author and editor. His inspiration has been his life experiences; his evolution and adaptation in society and life itself and as a result, translated these emotions into art and words within his work in this duration. Writing about trendy, technology, automotive and lifestyle-related material is what he mainly focuses on and he’s currently one of the authors for High Worth Citizen. Contact Sam at +357-22029786 ext: 6115 or by email at soskys@highworthcitizen.com for editorial related questions.



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