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Gold Prices Ease In Lackluster Trade

Gold Prices Ease In Lackluster Trade

Gold prices eased slightly on Friday, the dollar firmed up and equities gained ground as Giuseppe Conte returned as Prime Minister to form a new government in Italy and new signs of U.S.-China trade talks emerged.

Spot gold slid 0.1 percent to $1,525.62 per ounce after gaining nearly 8 percent so far this month on fears of slowing global growth, Brexit worries and uncertainty about the U.S.-China trade war. The contract is heading for a fourth monthly gain. U.S. gold futures were down 0.15 percent at $1,534.65 an ounce.

Trade worries eased somewhat after China said it is seeking to de-escalate the trade war with the U.S.

U.S. President Donald Trump later told Fox News the U.S. and China are scheduled to hold talks at a “different level,” although he did not clarify what that means.

Meanwhile, amid heightened recession fears, investors now await a string of economic releases due over the weekend including China’s official manufacturing survey for further direction.

The material has been provided by InstaForex Company – www.instaforex.com