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MTECHTIPS;-Gold remains stuck near $1500/oz, all eyes on US-China meet outcome

Friday, October 11, 2019 7:29

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MTECHTIPS;-Gold remains stuck near $1500/oz, all eyes on US-China meet outcome

MTECHTIPS-Gold price continues to trade in a broad range as market players remain on sidelines ahead of the US-China trade meeting. The US and China began their two-day meeting on October 10 and, while there is uncertainty whether a deal will happen or not, its impact on gold price is equally uncertain The US-China trade conflict has been going on for more than a year and previous failed attempts to resolve the issue has kept market confidence low that a deal could take place this week Mixed reports ahead of the meeting have added to uncertainty. As per Bloomberg reports, the White House is looking at rolling out a previously agreed currency pact with China as part of an early harvest deal that could also see a tariff increase next week suspended. This comes after South China Morning Post reported that US and China made no progress in deputy-level trade talks held during Monday and Tuesday in Washington and that the Beijing delegation would leave early

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