Investing.com – Gold prices were trading lower on Friday as the ease of trade tensions between the US and China, along with other positive signs, pushed investors toward riskier assets.
For December, delivery fell 0.09% at $ 1,523.85 an ounce on the New York Stock Exchange's Comex division to 10:48 a.m. ET (2:48 AM GMT), dropping from the highest $ 1,564.15 this week .
The risk appetite is reviving after trade talks are scheduled to resume in early October. The Chinese Ministry of Commerce confirmed that Beijing and Washington officials agreed to do so in a phone call this week.
Stronger economic data in the United States also support the shift to riskier assets. Private wages rose by 1
Developments in Hong Kong this week also played a role in weighing demand for metal in safe haven. The government has officially announced the withdrawal of a highly controversial bill that has sparked social unrest for more than two months.
Despite the losses today, gold prices still rose above 20% this year. Investors have turned to yellow metal for fears of a trade war worsening and how the Brexit plan will unfold in the UK
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