The price of gold has fallen in price after the announcement of the negotiations, the U.S. and China
Gold prices fell on Monday, hitting its lowest level in more than a week after progress in negotiations between the U.S. and China helped lift world stock markets up to 6-month high on Friday.
Strong Chinese exports, as well as data on Bank loans have also helped to reduce investor concerns about slowing global economic growth.
The price of gold on the spot market dropped by 0,3% to $ 1 286,85. ounce after the day before quotes reached 1 285,48 dollars, which was the lowest level since April 5. Gold futures in the U.S. fell 0.4% to $1 289,65 per ounce.
Optimism prevailed on the trade front, after Treasury Secretary Steven Mnuchin said on Saturday that the trade agreement between the U.S. and China “will surpass” previous attempts to open Chinese markets to American companies.
Mnuchin told the media on the sidelines of the spring meetings of the International monetary Fund and the world Bank that, in his opinion, Washington and Beijing are approaching the final round.
Strong start to the reporting season in the US fuels the risk appetite, leaving the gold as a refuge asset demand.
American companies reports this week are gaining momentum: Citi Group, Goldman Sachs, Bank of America, Johnson & Johnson, IBM, Morgan Stanley, PepsiCo and American Express joined the list of companies required to publish their quarterly results in the coming days.
Analyst of commodity market
Stock Markets Group