An employee shows gold bullions at Degussa shop in Singapore June 16, 2017. Picture: REUTERS / EDGAR SU
“Positive risk-on sentiment has tried to make a return ... There is some demand for the dollar and some confidence over the health of the US economy, especially after yesterday’s impressive retail sales figure. All this is weakening demand for gold today,” said FXTM analyst Lukman Otunuga. Bullion has risen more than $100 since the beginning of August amid the heightened trade tensions and a slew of disappointing economic data globally.
“There are major fundamental questions to be resolved between the two sides and that is making people hesitant of reaching a conclusion [on the talks],” Capital Economics analyst Ross Strachan said.
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