Gold Prices Slip on U.S.-China Trade Hopes
Gold prices traded slightly lower on Friday in Asia as reports that the U.S. is considering easing tariffs on Chinese products raised the mood toward risk assets and damped demand for safe havens.
Increasing hopes that a ‘hard Brexit’ scenario can be avoided were also cited as a headwind for the precious metal.
Gold futures for February delivery on the Comex division of the New York Mercantile Exchange were down 0.1% to $1,291.65 a troy ounce by 1:50 AM ET (06:50 GMT).
On Thursday, the Wall Street Journal reported that U.S. Treasury Secretary Steven Mnuchin proposed easing China tariffs.
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