A sudden drop in gold prices .. I know the reason

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Decreased gold prices The lowest level in nearly two weeks today, as improved risk appetite due to Chinese economic data came out better than expectations and the imminent signing of a preliminary trade agreement between the United States and China.By 0459 GMT, he got off gold In spot transactions, 0.6% to $ 1538.84 an ounce earlier in the session, prices touched their lowest levels since January 3 at $ 1535.75 and US gold futures fell 0.7% to $ 1539.70.

Asian stocks rose on signs of goodwill between the two largest economies in the world, as they prepared to sign an agreement that would represent a truce in the tariff dispute that has been going on for 18 months, which has caused the heart of the situation Economy Global upside down.

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The day before the signing of the one-stage commercial agreement, the US Treasury dropped on Monday, marking China as a currency manipulator, indicating further improvement in relations.

The US trade representative, Robert Lighthizer, said that the Chinese translation of the agreement has almost expired and will be announced before the signing ceremony tomorrow, Wednesday.

But there are persistent concerns that this does not mark the end of the trade war that caused the turmoil international markets Over the past year and a half.

Data from China showed exports rose for the first time in five months in December, while imports also exceeded expectations.

As for other precious metals, silver fell 1% to $ 17.78 an ounce, after falling to its lowest level since late December at $ 17.71 earlier in the session.

Palladium fell 0.1% to $ 2129.92 an ounce, while platinum fell 0.6% to $ 968.01.

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