PRECIOUS-Gold holds firm as souring trade spat hurts risk appetite [Reuters]
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Source: Reuters
PRECIOUS-Gold holds firm as souring trade spat hurts risk appetite - Reuters 3 Min Read * U.S.-China trade talks set for Oct. 10-11 in Washington * Signals for gold remain mixed- technicals (Adds comments, details; updates prices) By Karthika Suresh Namboothiri Oct 9 (Reuters) - Gold prices held firm on Wednesday as sagging hopes for progress in U.S.-China trade negotiations sapped risk appetite, with markets watching closely for clues on monetary easing by the U.S. Federal Reserve. Spot gold was little changed at $1,505.46 per ounce as of 0359 GMT, but stood its ground above $1,500 after jumping as much as 1% in the previous session. U.S. gold futures gained 0.5% to $1,511.00 per ounce. “The market is holding back, and looking at what’s going to happen in the U.S.-China trade talks on Thursday... If the trade dispute turns worse, we are going to expect some strong risk-off trade,” said Phillip Futures analyst Benjamin Lu. “The players who were short, rolled back on their positions. W
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