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Gold lows as trade tensions ebb
08:06 - 28/03/2018
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Gold prices fell after hitting a six-week high as the dollar rallied and risk appetite returned to global markets, but the yellow metal remained supported by a series of geopolitical tensions.
Stock markets jumped in response to reports that the United States and China were negotiating to avoid a trade war, reducing gold's attractiveness as a safe haven.
By 1740 GMT, the spot price of gold fell 0.7 percent to $ 1343.84 an ounce after touching $ 1356.66 earlier in the session, its highest level since Feb. 16.
US gold futures for April delivery fell $ 13, or 1 percent, to $ 1,340 an ounce.
Among other precious metals, silver fell 0.7 percent in spot trade to $ 16.54 an ounce after approaching a three-week high of $ 16.80 earlier in the session.
Platinum fell 1.1 percent to $ 941.99 an ounce, while palladium rose 0.1 percent to $ 974.50 an ounce.
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