logo
Plus   Neg
Share
Email

Gold Prices Mixed On Trade Worries

Gold prices were mixed on Friday as the dollar stood tall on data showing the U.S. economy on a firm footing.

Spot gold slipped 0.1 percent to $1,456.74 per ounce and remained on track for a loss of almost 4 percent this month, marking its biggest monthly decline since November 2016. U.S. gold futures were up 0.15 percent at $1,462.75.

The U.S. economy grew faster than initially expected in the third quarter, revised GDP estimates from the Bureau of Labor Statistics showed Wednesday.

Durable goods orders unexpectedly rebounded in October and the Fed's Beige book reported modest growth in economic activity from October through mid-November, prompting investors to scale back their rate-cut bets.

U.S.-China trade tensions also remained on investors' radar amid worries that tensions between the U.S. and China over Hong Kong could delay a potential "phase one" trade deal.

The editor of China's state-backed Global Times tabloid said in a tweet that China is considering to put the drafters of the Hong Kong Human Rights and Democracy Act on the no-entry list, barring them from entering the Chinese mainland, Hong Kong and Macao.

For comments and feedback contact: editorial@rttnews.com

Market Analysis

Follow RTT
>