Gold Price Rises Ahead of US-China Trade Negotiations

On the morning of September 20, gold began to rise in price amid a weakening dollar. Now all markets are turning their attention to the state of trade relations between Washington and Beijing. This is evidenced by trading data.

CMC Markets senior market strategist Michael McCarthy explained that the next round of trade negotiations between the two countries is scheduled for early October, reports Reuters.

Investors are waiting for news on trade negotiations as the October meeting approaches, and this could be the next significant driver for gold prices,” said McCarthy.

The December gold futures price on Comex New York Stock Exchange rose $ 6.45. This corresponds to 0.43%. Its cost was $ 1,512.65 per troy ounce.

The price of the December silver futures increased by 0.5%, to $ 17.973 an ounce.

Markets note a cheaper dollar against the pound by 0.25%, against the euro - at 0.14%, against the yen - at 0.12%.

At the same time, the British currency is strengthening against the backdrop of statements by the head of the European Commission, Jean-Claude Juncker, that the European Union and Great Britain can conclude an agreement on the country's exit from the EU (Brexit).

Mid-September is rich in events that continue to excite traders and stock market participants. 

Along with the difficult and unresolved situation between the USA and China, the upcoming Fed decision, as well as military clashes in the Middle East, are pressuring the mood. News.ru tried to understand the situation in the financial markets.