Gold Prices Reduce As The US Central Bank Plans To Cut Interests For The Third Time To Curb Trade Tension

Gold prices reduced today following the US-China trade talks that took place yesterday in Washington DC.

It was a field day for trade buyers and sellers as the talks lifted the risk appetite.However equity markets were mostly higher across the globe. Spot gold prices were down 0.2% at $1,491.12 per ounce.

Insiders say that talks between US and Chinese officials went very well. The 15-month trade war between the world’s two biggest economies has sparked fears of a recession, lifting gold prices sharply this year.

Meanwhile the US Federal Reserve may cut interest rates for a third time this year later this month amid risks to the economy from the trade tensions. Lower interest supports assets classes like non-interest yielding gold.

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