Metals Stocks: Gold loses haven bid as China’s pledge on foreign access, car tariffs rallies stocks [MarketWatch]
CME Group Inc. - Class A (CME)
Last cme group inc. - class a earnings: 4/29 07:00 am
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Source: MarketWatch
Gold loses haven bid as China’s pledge on foreign access, car tariffs rallies stocks Gold prices slipped modestly Tuesday as global investors piled back into riskier assets, including stocks, as comments out of China soothed trade-war fears for now. June gold GCM8, +0.01% declined 80 cents, or 0.1%, to $1,339.30 an ounce. A global equity rally followed Chinese President Xi’s pledge at the Boao Forum that Beijing is developing plans to give foreign companies greater access to financial and manufacturing sectors. These include a cut in tariffs on car imports and an improvement in protection of intellectual property, among other measures. “Gold prices fell as trade fears moderated, diminishing the appeal of the safe-haven metal,” said Marios Hadjikyriacos, analyst at trading firm XM. Xi “calmed the nerves of investors regarding any further escalation in the U.S.-China trade spat,” Hadjikyriacos said. “Xi pledged to open up China’s economy further, to lower import tariffs and to streng
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