International gold prices drop before signing a temporary trade agreement between the mother

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11:39 AM

Monday 13 January 2020

Cairo – Agencies:

Global gold prices fell today, Monday, with Asian shares climbing to the highest level in 19 months before the signing of the temporary trade agreement between Washington and Beijing, which encouraged investors to return to risky assets.

Reuters said that the price of gold fell in immediate transactions 0.5% to $ 1553.93 an ounce by 0630 GMT. And gold fell in futures trading in the United States 0.3% to $ 1555.80.

Asian stocks rose to the highest level in 19 months before signing the one-stage agreement in the White House scheduled for Wednesday, according to the agency.

On Sunday, US Treasury Secretary Stephen Mnuchin said that Chinas commitments in the one-stage commercial agreement had not changed during the long-term translation process and would be announced this week.

It also contributed to allaying fears. A report published by the Wall Street Journal last Saturday stated that Washington and Beijing agreed to hold semi-annual talks aimed at pushing forward reforms in the two countries and resolving differences.

Gold prices rose 18% last year against the backdrop of the long-running trade dispute between the world’s two largest economies.

The dollar rose before signing, which increases the cost of gold for buyers who use other currencies.

Regarding other precious metals, palladium decreased 0.1% to $ 2114.62 an ounce, silver fell 0.4% to $ 18.02 and platinum fell 0.5% to $ 973.51.

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