Spot gold declines 0.4%, but is still set to rise more than 0.5% this week
Melted gold flows out of a smelter into a mould of a 1kg bar at a plant of gold refiner and bar manufacturer Argor-Heraeus in the southern Swiss town of Mendrisio in 2008. Picture: REUTERS/ARND WIEGMANN
Spot gold declined 0.4% to $1,465.77/oz at 4.15am GMT, but was still set to rise more than 0.5% this week. US gold futures were down 0.5% at $1,466.30/oz. Ilya Spivak, a senior currency strategist at DailyFx, said the optimism for the trade deal and a bit of technical resistance at these levels is weighing on gold. Gold prices have gained more than 14% in 2019 as the on-again, off-again trade spat has roiled financial markets and prompted fears of a global economic slowdown.
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