Gold price traded lower, dollar also dipped


Goldprice

29-08-2018 04:40 PM

Gold prices traded lower on Wednesday while the dollar also dipped. The U.S. Dollar Index dipped. Trade deal between U.S. and Meixo to fix NAFTA were also spotted as moving in the opposite direction for the greenback.

Gold prices traded lower on Wednesday while the dollar also dipped as investors anticipated additional development on the China-U.S. trade heated discussion.

Investors are expected to watch closely on any additional developments in the Sino-U.S. trade heated discussion as the time limit for public comment on U.S. President Donald Trump’s duty on another $200 billion of Chinese goods is due early September this year.

A subordinate level trade discussion between China and the U.S. ended last week with little development made, while Trump is reportedly meeting his China counterpart Xi Jinping later this year to talk about further on trade concerns.

The U.S. Dollar Index, dipped from 0.02% to 94.61 by 1:10AM ET (05:10 GMT). The index dipped to 94.434 overnight in the U.S. session, its lowest ever since July 31.

The report of a trade deal between U.S. and Meixo to fix NAFTA were also spotted as moving in the opposite direction for the greenback.

   
 
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