Metals Stocks: Gold prices decline, head for first weekly loss since mid-December [MarketWatch]
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Source: MarketWatch
Gold prices decline, head for first weekly loss since mid-December Gold futures prices dropped Friday, headed for their first weekly loss since mid-December, as investors pushed into riskier assets, including stocks, fueled by hope of potential progress toward a resolution in the U.S.-China trade dispute. “The gold price is moving lower today as [risk-on] investors are optimistic about the U.S.-China trade deal despite the fact the Treasury has denied all the recent rumors. But the fact is that Washington and Beijing want to make the deal now and it appears that they have understood the consequences of this turmoil,” said Naeem Aslam, chief market analyst with Think Markets. “However, investors should not take their eyes off from the Brexit chaos, because we have no idea yet which way we are heading and this has impacted the growth in the U.K. and in Europe,” he added. Read: After historic Brexit defeat — what’s next? Gold for February delivery GCG9, -0.76% fell $9.80, or 0.8%,
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