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Gold Prices Edge Lower While Dollar Also Slips as China-U.S. Tensions Weigh

Gold prices edged lower while the dollar also slipped

Investing.com - Gold prices edged lower while the dollar also slipped as investors awaited further development on the China-U.S. trade disputes.

Gold Futures for December delivery was 0.4% lower at $1,209.8 per troy ounce at 2:00AM ET (06:00 GMT) on the Comex division of the New York Mercantile Exchange.

Investors are likely to keep their eyes on any further developments in the Sino-U.S. trade dispute as the dealine for public comment on U.S. President Donald Trump’s tariffs on another $200 billion of Chinese goods is due early September.

A lower-level trade talks between China and the U.S. ended last week with little progress made, while Trump is reportedly meeting his China counterpart Xi Jinping later this year to further discuss trade issues.

The U.S. Dollar Index, which tracks the greenback against a basket of other currencies, slipped 0.02% to 94.61 by 1:10AM ET (05:10 GMT). The index dipped to 94.434 overnight in the U.S. session, its lowest since July 31.

The news of a trade deal between U.S. and Meixo to overhaul NAFTA were also cited as headwind for the greenback.

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