Gold slips slightly ahead of US Fed chair’s speech and G20 summit
Gold prices have lost more than 10% since April as investors turn to the dollar as a safe haven with the trade war unfolding
Bengaluru — Gold prices edged lower on Tuesday while investors awaited clues on the pace of future US interest-rate hikes and as the US-China trade spat sours ahead of a Group of 20 (G20) summit. Spot gold inched 0.1% lower to $1,221.70 per ounce at 3.37am GMT. US gold futures were little changed at $1,222.1 per ounce. Investors will hold steady until the minutes of the Federal Reserve meeting are released and more clarity emerges around the trade conflict leading into the G20 summit, ANZ analyst Daniel Hynes said. In an interview with the Wall Street Journal, US President Donald Trump said he expected to move ahead with raising tariffs on $200bn in Chinese imports to 25% from the current 10%, and repeated his threat to slap tariffs on all remaining imports from China. The comments ran counter to recent speculation about a possible deal when Trump meets Chinese President Xi Jinping at the G20 summit in Buenos Aires later this week. "When these concerns have elevated, investors have ...
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