Gold Prices Inch Down as China, U.S. Make Progress on Trade Negotiations
Investing.com
Published Oct 21, 2019 11:32PM ET
Updated Oct 21, 2019 11:57PM ET
Investing.com - Prices of the safe-haven gold prices inched down on Tuesday in Asia as China and the U.S. made some progress on their trade negotiations.
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Gold Futures slipped 0.1% to $1,486.85 by 11:55 PM ET (03:55 GMT), as hopes of progress on the U.S.-China trade dispute were kept alive by constructive comments on both sides over the weekend.
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U.S. President Donald Trump said during a Cabinet meeting at the White House that China has begun buying American agriculture products. “I want more,” he added.
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Le Yucheng, China’s Vice Foreign Minister, said the two sides have achieved some progress in trade negotiations. “The world wants China and the United States to end their trade war,” he said.
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Trump said earlier this month that he had agreed in principle to a “phase one” trade deal with China’s Vice Premier Liu He after high-level negotiations in Washington.
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Some believe that deal will be signed in Chile next month during the Asia-Pacific Economic Cooperation meetings.
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Meanwhile, White House economic advisor Larry Kudlow told Fox Business on Monday that a new tariff increase scheduled for December could be scrapped if talks continue to progress well.
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However, Commerce Secretary Wilbur Ross had said earlier that: "We would like to make a deal, but from our point of view it has to be the right deal and it doesn’t have to be in November," Ross said. "It’s more critical that it be a proper deal than exactly when it occurs.”
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Written By: Investing.com
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