Gold Prices Drift Lower Amid Trade Deal Hopes

Gold prices are edging lower Monday morning as optimism about an interim U.S.-China trade deal continue to prompt investors to seek riskier assets.

Traders are also looking ahead to the minutes of the Federal Reserve’s latest policy meeting for clues on future interest rate cuts.

The dollar index was down marginally at 97.94.

Gold futures for December are down $10.40, or 0.7%, at 1,458.10 an ounce.

On Friday, gold futures for December ended down $4.90, or 0.3%, at $1,468.50 an ounce.

Most of the markets across the globe ended on a firm note on Friday amid renewed optimism about U.S.-China trade deal following positive comments from U.S. officials.

Media reports from China say China’s Vice Premier Liu Hu spoke with US administrative officials over the weekend about a phase-one trade deal.

Reports say Washington and Beijing had a high-level phone call on Saturday, discussing core issues, and that the discussions were constructive.

The material has been provided by InstaForex Company – www.instaforex.com