Gold steadied yesterday as the dollar weakened and investors sought more clarity on the “phase one” trade deal between the United States and China.
Spot gold was little changed at $1 475,50 per ounce by 0821 GMT after prices came under some early pressure in the Asian session on initial optimism over the trade deal. US gold futures fell 0,1percent to $1 480,10.
Despite some signs of caution, equities remained in positive territory, limiting bullion’s advance, after the world’s top two economies announced the “phase one” agreement and suspended some tariffs on each other’s goods that were due to go into effect on Sunday.
“We still don’t know what is in the deal . . .” said Hareesh V, head of commodity research at Geojit — Reuters.