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Gold rises in price on return of trading risks

Thu Oct 31, 2019
watermark Economic news

Based on trading session data, the price of gold went up during the evening trading. The current precious metal quotation is $ 1,515.60 per troy ounce. Demand for gold, which is traditionally a reliable asset, is growing against the backdrop of another surge in trade uncertainty on world markets.

On the eve it became known that US President Donald Trump has expressed his intention to sign the first stage of a trade deal with China, which will be about 60% of the entire agreement. At the same time, the Chinese side is already casting doubt on the possibility of concluding a comprehensive long-term trade agreement with the United States, even if the “first phase” agreement is signed.

In addition, the results of the US Federal Reserve meeting contribute to the growth of gold quotes. Yesterday, the regulator lowered the base interest rate by 25 basis points to 1.5-1.75% per annum, which put pressure on the US currency.

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