Gold Prices Gain, Dollar Slips as U.S. Confirms Trade Talks with China
Friday,
17-Aug-2018
10:40 AM (IST)
Gold prices traded slightly higher on Friday while the U.S. dollar dropped after White House economic advisor Larry Kudlow confirmed that Chinese and U.S. officials will meet later in August to resume trade talks.Gold Futures for December delivery rose 0.03% to $1,184.2 per troy ounce on the Comex division of the New York Mercantile Exchange, while the U.S. dollar index that tracks the greenback against six currencies slid by 0.03% to 96.45.Next week, the main focus will likely shift to U.S.-China trade issues from Turkey with the Chinese delegation visiting Washington and as $16 billion in new tariffs on Chinese good are due to take effect.Meanwhile, the lira crisis also eased somewhat as Berat Albayrak, Turkey’s finance minister, described the current situation as a “market anomaly” and that he is confident Turkey would emerge stronger from the crisis.
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