London — Gold prices slid on Friday to their lowest in more than a week as the dollar rose due to easing trade tension and weak demand for the metal due to the expectation of higher interest rates in the US. Spot gold was down 0.5% at $1,240.3/oz, at 10.31am GMT from an earlier $1,238.90, its lowest since July 3. It has fallen about 9% since the middle of April. US gold futures slipped 0.5% to $1,240.9/oz. Tension between the US and China eased after US Treasury Secretary Steven Mnuchin said on Thursday that talks between the world’s two largest economies could be reopened if Beijing was willing to make significant changes. A rising US-currency makes dollar-denominated gold more expensive for holders of other currencies, which potentially weighs on demand. "When the dollar rises we see gold falling, but when the dollar falls we don’t see gold recovering because there is very little appetite for gold at this time," said ActivTrades analyst Carlo Alberto De Casa. "Higher interest rate...
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