Yellow metal flat as investors look for cues from Trump speech on US-China negotiations
Gold granulate is seen at a plant of gold refiner and bar manufacturer Valcambi in the southern Swiss town of Balerna. Picture: REUTERS/MICHAEL BUHOLZERGold prices were flat on Tuesday, as investors looked for clues from US President Donald Trump on the status of trade talks with China, while the political unrest in Hong Kong provided some support to the safe-haven metal.
“New developments in the US-China trade war or any data that point towards inflation rate element will impact gold prices,” said Nicholas Frappell, global GM at ABC Bullion. The months-long trade war and Brexit uncertainty have roiled financial markets and sparked fears of a global economic slowdown, pushing the precious metal more than 13% higher this year.
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