Gold falls after "constructive talks" report[/rtl]
[rtl]Release date:: 2019/11/18 10:07 • 44 times read[/rtl]
Gold prices fell on Monday as growing optimism about US-China trade relations, following a report on "constructive talks" over the weekend, while the dollar's decline limited the losses of the metal.
By 04:53 GMT, the spot price of gold was down about 0.1 percent to $ 1466.09 an ounce, while US gold futures also fell 0.1 percent to $ 1466.40.
The official Xinhua news agency reported that Washington and Beijing held a high-level telephone conversation on Saturday, where the two sides discussed their core issues with regard to the first phase of an initial trade agreement.
"Improved risk sentiment across Asia and investors' cautious optimism about moving ahead with the one-stage deal before Christmas are putting pressure on gold," said Margaret Yang Yan, market analyst at CMC Markets.
Asian markets rose after Beijing surprised markets with a key rate cut for the first time since 2015, sparking speculation that some stimulus may be on the way to the world's second largest economy.
The dollar fell slightly against the major currencies.
In other precious metals, silver fell 0.2 percent in spot transactions to $ 16.91 an ounce, while platinum rose 0.2 percent, to $ 890.89.
Palladium climbed 1 percent to $ 1,722 an ounce. is over