BULLION UPDATE –
Gold prices inched up on Wednesday in Asia while the dollar was flat as traders eyed U.S.-China tensions.
Gold futures for December delivery on the Comex division of the New York Mercantile Exchange traded 0.1% higher at $1,224.4 a troy ounce by 1:44 AM ET (06:44 GMT).
In a 53-page report released on Tuesday, U.S. Trade Representative Robert Lighthizer’s office accused China of a state-backed campaign of intellectual property and technology theft.
“China fundamentally has not altered its acts, policies, and practices related to technology transfer, intellectual property, and innovation, and indeed appears to have taken further unreasonable actions in recent months,” the report said.
Looking ahead, investors will likely switch focus to the G20 leaders’ summit later this month in Argentina where U.S. President Donald Trump is expected to meet with his Chinese counterpart Xi Jinping.
The U.S. dollar index that tracks the greenback against a basket of other currencies slipped 0.03% to 96.67.
Trading volumes are expected to remain subdued ahead of the U.S. Thanksgiving holiday on Thursday.
TECHNICAL DEPARTMENT
TRADE MAX INDIA