The risk still lingers in global financial markets while US-China trade talks are going on with encouraging comments coming from trade officials on both sides. The tariff hikes imposed by both the parties earlier also have a chance of a rollback. These tariff hikes impacted not just the market of these two countries about also other global markets.
Gold price under pressure as it continues to trade weak
Gold price stands at around $1461, with 3.2% of its value lost over the previous week. This rate is the lowest level for the precious metal prices since November 2016.
Gold price today hits low with US-China trade war making its impact
US President Donald Trump confirmed that negotiations were making progress, but any deal signed will have to be ideal for the US.
There is a chance that US& China would revoke a few of the tariffs imposed earlier as a part of the phase one agreement of the trade deal.