⛏ Gold Falls Below $4,000 on U.S.-China Trade Optimism

Gold Falls Below $4,000 on U.S.-China Trade Optimism
Gold priced dipped further on Monday after the US and China agreed on a framework for a trade deal, just days before US President Donald Trump and Chinese President Xi Jinping are scheduled to meet. Spot gold fell as much as 2.2% to $4,023 per ounce on Monday, marking its lowest level since last Wednesday. The decline came after last week’s steepest gold drop since April 2013, when the metal had reached a high of $4381 last Monday. Read on »

China played key role in gold’s rally: Apollo
China has emerged as a key catalyst behind gold’s record-setting rally this year, according to Torsten Sløk, the chief economist at Apollo Global Management. Last week Sløk highlighted three major trends in China that are driving gold prices higher: central bank buying, arbitrage trading, and increased speculative and safe-haven demand. Read on »

Fed Portfolio Unwind Gains Urgency as Markets Flash Warnings
When Federal Reserve officials meet next week to decide whether to cut interest rates again, they’ll face another question that’s becoming increasingly urgent — how soon they should stop shrinking the bank’s $6.6 trillion portfolio of securities. Money markets have been flashing warnings for several weeks that the process, known as quantitative tightening, may have run its course. Read on »