U.S.-China Trade Tensions Create Market Uncertainty
10/11/2019 8:09:52 AM
- For the week, Gold is on track to lose 1.9%, which would represent the firmest sharpest decline since a 2% decline in the week of November 9, 2018.
Gold settled lower Monday, as investors watched developments in trade discussions between the United States and China. Gold prices rose slightly on Tuesday only to lower again, pressured by strength in the U.S. dollar. Gold headed higher on Wednesday, as investors kept an eye on U.S.-China tariff negotiations, developments around Brexit and economic data.
Gold advanced on Thursday, only to fall amid mixed signals over prospects for U.S.-China trade talks. On Friday, Gold sank lower, putting bullion on track to record its steepest daily drop in October, dragging the commodity to its sharpest weekly fall in more than a year. Markets have been on edge for weeks because of contradicting signs of a breakthrough in U.S.-China trade tensions, in addition to progress on Brexit.