The price of Gold has been capped ahead of the key $1,520 target on a reverse in sentiment surrounding trade talks. Gold has dropped to a low of $1,491.77 and was down over 1% at one stage following optimistic trade talk headlines. Gold is currently trading at $1497.85, -0.91% at the time of writing. Gold futures also traded lower following news how trade talks have started off well, and in earnest, while Trump is also due to meet with Chinese Vice Premier Lui He on Friday. “Big day of negotiations with China. They want to make a deal, but do I? I will meet with the Vice Premier tomorrow at The White House,” said Trump.Prior to that, Bloomberg News had reported that the White House could put in place a currency pact and suspend tariff increases that are set to take effect Oct. 15. This followed mixed headlines in early Asia yesterday, leaving markets guessing as to whether high levels trade talks would take place or not.Gold spiked on the possibility of the Chinese delegation cutting short negotiations, and rallied towards he said $1,520 target. However, prices were sent back and December gold on Comex lost some $14, or 0.9%, to Asset Gates broker scam $1,498.80 an ounce, after rising 0.6% on Wednesday. December Silver was also on the back foot, losing 29 cents, or 1.7%, to reach $17.515 an ounce, following a gain of 0.6% the prior day.“The case for holding precious metals as a tail risk hedge for equities is still growing, with ETF purchases soaring some 20% year-on-year and showing no sign of slowing down as of yet,” analysts at TD Securities argued. “At the same time, with a high proportion of real rates in negative territory, purchasing gold as an alternative to bonds is particularly attractive given the paradigm shift narrative.”Technically, Asset Gates broker scam bears can target a break to below a 50% mean reversion of the late June swing lows to recent highs around 1460/70. However, on the upside, bulls should the price remain in the vicinity of the 1500 level, then eyes can stay set on the 1520 level ahead of a 1535 resistance target. Forex Crunch is a site all about the foreign exchange market, which consists of news, opinions, daily and weekly forex analysis, technical analysis, tutorials, basics of the forex market, forex software posts, insights about the forex industry and whatever is related to Forex.Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader’s level of experience should be carefully weighed before entering the Forex market. There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market. Any comments made on Forex Crunch or on other sites that have received permission to republish the content originating on Forex Crunch reflect the opinions of the individual authors and do not necessarily represent the opinions of any of Forex Crunch’s authorized authors. Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Omissions and errors may occur. Any news, analysis, opinion, price quote or any other information contained on Forex Crunch and permitted re-published content should be taken as general market commentary. This is by no means investment advice. Forex Crunch will not accept liability for any damage, loss, includi
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