Gold prices end little changed as dollar weakens but global stocks rally on China trade progress

April 4, 2019

London (April 4)  Gold settled slightly lower Wednesday as stocks gained buoyancy on U.S.-China trade news. June gold GCM9, -0.19% ended the session 10 cents, or less than 0.1%, lower at $1,295.30 an ounce. Trade for bullion came even as the U.S. dollar, which can weigh on gold prices when it strengthens, weakened, as measured by the ICE U.S. Dollar Index DXY, +0.11% down 0.3% at 97.04. U.S. stocks followed the lead of global equities, which rallied on a report over progress with trade talks between the U.S. and China. "Ninety percent of the deal is done, but the last 10% is the hardest part, it's the trickiest part and it will require trade-offs on both sides," Myron Brilliant, executive vice president for international affairs at the U.S. Chamber of Commerce, told the Financial Times on Tuesday. The news helped to pressure haven assets like gold, which have benefited from worries that a prolonged clash between the U.S. and China would stoke market downturns--a boon for gold futures.


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