Gold Moved on US-China Trade News

Free $100 Forex No-Deposit Bonus

By Giles Coghlan, Chief Currency Analyst at HYCM

Gold is being pushed around by the latest US-China trade war developments. When the market is optimistic about a US-China trade deal then gold is finding sellers. The big picture is that a growing global economy will allow a normalisation of central bank policy.

When the market is pessimistic about a US-China trade deal then gold is finding buyers. A breakdown in relationship between the US and China will slow global growth, allow for a longer low rates environment and keep gold bid. So, gold traders should look to the latest US-China trade news for their near term direction. In the chart below gold was bid on the news that China was pessimistic about a trade deal with the US yesterday. Watch this narrative for moves on gold.

Learn more about HYCM

Copyright © 2019. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.