Gold Ends Lower As Equities Rise Ahead Of Trade War End COMMODITIES: Gold Ends Lower As Equities Rise Ahead Of Trade War's End
02:11 PM EST, 01/13/2020 (MT Newswires) -- Gold ended lower on Monday despite a weaker dollar as investors turned to riskier stocks ahead of the signing of the Phase One trade deal between the United States and China.
Gold for February delivery closed down US$9.50 to settle at US$1,550.60 per ounce in Comex trade.
North American stock markets rose to record highs as China and the United States are expected this week to sign their phase one deal to end their long-running tariff battle, with markets expecting higher economic growth as trade patterns normalize following the end of the trade war.
The U.S. dollar was lower, making the metal more affordable for international buyers. The ICE dollar index was last seen down 0.02 points to 97.34.
Cheers to the patient investors.