Gold Price Subdued After Recent Rally

February 22, 2019

London (Feb 22)  Gold prices fell slightly on Friday as minutes from the Federal Reserve's last meeting revived expectations for a possible US rate hike this year.

Investors also keep an eye on US -China trade talks, with US President Donald Trump scheduled to meet with Chinese Vice Premier Liu He in the White House today, with the goal of reaching a trade deal ahead of a March 1 deadline.

Spot gold edged down 0.1% to USD1,322.82 per ounce while US gold futures were down 0.2% at USD1,325.15 per ounce. With the risk factors mounting, the metal is heading for a second straight weekly rise.

The dollar held steady as optimism over US-China trade negotiations and growing hopes of soft orderly Brexit helped investors shrug off weak US data released overnight.

It appears gold traders are booking some profits after the precious metal hit a ten-month high of USD1,346.73 on Wednesday.


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