Forex Marketz Daily Forex News – Fully Markets Update
Gold futures were steady this morning during Asian trade hours. This comes after setting a new year to date low price point during Monday’s trade hours .The dollar’s recovery has slowed down today as it moved away from a five month high price point.
As of 1 am GMT, spot gold (XAU/USD) was flat from yesterday’s settlement. It was last trading at $1,292.66 per ounce. Yesterday, the yellow bullion fell to $1,281.76. This is its lowest price point since December 27.
U.S. gold futures, for June delivery, were higher. They rose 0.1 percent to trade at $1,292.50 per ounce.
The U.S. dollar index, which gauges the U.S. currency in a basket of six other Forex majors, was down this morning. It traded down 0.2 percent to fetch 93.478.
The dollar had hit a five month high on Monday. There were encouraging headlines of a possible truce between the United States and China regarding their trade war. They are willing to pause new trade tariffs. This allowed traders to sell off some short positions on the USD.
Gold Traders watch Trade Headlines between China and the United States
This morning, Asian stock markets rose as sentiment improved. There is growing relief over global trade as the United States and China agreed to cool off their looming trade war. Oil rose to multiyear highs over political problems. There are also new potential sanctions for Venezuela.
Washington and China claimed victory as the world’s two largest superpowers agreed to pause a looming trade war. Both countries agreed to further talks to boost American exports into China.
President Donald Trump said China pledged to buy “massive amounts” of agricultural goods from the U.S. He provided no details about any commitments from China following their trade talks that were held last week.
