Gold sinks most in year as trade truce deals blow to bullsGold prices tumble after the United States and China reached a truce in their trade war on Saturday. (Reuters photo)Gold tumbled back below US$1,400 an ounce after the United States and China reached a truce in their trade war, dealing a blow to havens. Prices fell the most in a year after Donald Trump and Xi Jinping agreed to resume negotiations. Spot gold dropped as much as 2%, the biggest intraday decline since June 2018, and was at $1,391.68 at 12.40pm in London. With China-US trade tensions temporarily out of the way, gold traders’ focus is back toward fundamentals, and “fundamentals are still reasonably ok,” Wei Li, head of iShares EMEA investment strategy at BlackRock, told Bloomberg Television.

Source: Bangkok Post July 01, 2019 12:22 UTC