Safe-haven gold edges lower as US-Japan trade deal eases some uncertainty

Gold prices edged lower on Wednesday as a U.S.-Japan trade agreement announced by U.S. President Donald Trump lifted investor risk appetite, while a firmer dollar and higher Treasury yields added further pressure. Spot gold was down 0.1 percent at $3,428.69 per ounce as of 11:47 a.m. (GMT), after hitting its highest point since June 16 earlier in the session. U.S. gold futures also slipped 0.1 percent to $3,441.90. Trump struck a trade deal with Japan that lowered tariffs on auto imports and spared Tokyo from punishing new levies on other goods in exchange for a $550 billion package of U.S.-bound investment and loans. "Spot gold is paring some of its gains as the U.S.-Japan trade deal diluted demand for safe havens. The U.S. dollar's slight rebound is also weighing on bullion, though it's only natural that bullion bulls take a breather after the 3-day rally," said Han Tan, chief market analyst at Nemo.Money. The U.S. dollar index was up 0.1 percent against its rivals, making greenback-priced bullion more expensive for other currency holders, while benchmark 10-year U.S. Treasury yields reWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times