26-07-2018 05:00 PM

Gold prices relieved on Thursday as pressing global trade worries eased U.S. President Donald Trump and European Commission President Jean-Claude Juncker decided to work towards remove trade obstacles.

Gold prices traded lower at $ 1229.60 at the time of preparing this report.

U.S. President Donald Trump made an harmony with European Commission President Jean-Claude Juncker on Wednesday to increase European imports of U.S. liquefied natural gas and soybeans and decrease industrial excise on both sides.  

In the interim, the dollar slipped to near a two-week low on Tuesday subsequent to the development.

According to Mr.Ponmudi – Expert Market Analyst and Managing director Enrich Commodity - The meeting between the EU President Juncker and President Trump in which they talked about moves to ease trade tensions led to some diminishing of the U.S. dollar index, which has pushed gold up.

The U.S.-China trade disagreement is still unresolved and is the more challenging one.

Looking at the forefront, investors would possibly transfer focus to the European Central Banks' (ECB) policy meeting due later in the day and the second-quarter U.S. economic growth data, which is likely on Friday.