Gold Futures Market News and Commentary
Dec Comex gold (GCZ19) on Thursday closed down -10.6 (-0.72%), and Dec silver (SIZ19) closed down -0.050 (-0.29%).
Precious metals moved lower Thursday due to a stronger dollar and some trade optimism that undercut safe-haven demand for precious metals.
Trade optimism improved after Chinese Vice Premier Liu He, China's chief trade negotiator, said late Wednesday night that he was "cautiously optimistic" about reaching a phase one trade deal with the U.S. Also, the South China Morning Post reported Thursday that the U.S. may delay tariffs set for Dec 15 if a trade deal hasn't been reached by then.
U.S./China trade tensions earlier ratcheted higher on Wednesday after Congress passed legislation supporting Hong Kong protesters that President Trump is expected to soon sign into law. China has vowed to retaliate for the legislation and that sparked fears that ongoing U.S./China trade negotiations may be in jeopardy.
Comments from Cleveland Fed President Mester... Read more