Gold dips amid hints that trade deal is imminent

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Asian shares ticked higher after Wall Street crawled to new record closing highs on positive trade news, while the dollar rose

Gold bullion is displayed at Hatton Garden Metals precious metal dealers in London, Britain. Picture: REUTERS/NEIL HALL

“Everyone is very optimistic that there was a phone call between [US-China trade] negotiators,” Ilya Spivak, a senior currency strategist at DailyFx said. On China’s industrial front, data showed profits of companies fell to their steepest in eight months in October. This comes after US consumer confidence fell for a fourth consecutive month in November. Nonetheless, safe-haven bullion, which has gained more than 13% this year, mainly due to the tariff dispute, was little moved.

 

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