Gold prices inched down on Tuesday in Asia as China and the U.S. made some progress on their trade negotiations.
U.S. President Donald Trump said during a Cabinet meeting at the White House that China has begun buying American agriculture products. “I want more,” he added.
Le Yucheng, China’s Vice Foreign Minister, said the two sides have achieved some progress in trade negotiations. “The world wants China and the United States to end their trade war,” he said.
Investors await a U.S. Federal Reserve meeting at the end of the month that could offer further signs of monetary easing. “Though we remain optimistic on safe haven appeal for Q4, traders should take caution at key support level of $1,480 as strong technical selling may drive gold prices towards $1,473 and $1,459 in the near term,” Phillip Futures analyst Benjamin Lu said. [Technically] :- Gold price managed to break $1,485 level and closed the daily candlestick below it, which supports the continuation of the bearish overview to reach to $1,474.
Silver fell 0.1 percent to 17.57, Platinum steady at 893.00.