• MTS Gold Evening News 20180328

    28 Mar 2018 | Gold News

·         Gold was little changed on Wednesday after falling in the previous session as concerns about a potential trade war between the United States and China eased which supported the dollar and reduced the incentive to holdbullion as a safe-haven asset.

Spot gold  was down 0.1 percent at $1,343.98 per ounce at 0419 GMT. Prices dropped 0.7 percent on Tuesday, its biggest percentage loss since March 15, after rising during the previous two sessions.

U.S. gold futures for April delivery rose 0.1 percent to $1,343.40 per ounce.

·         "The gold price is mainly driven by the U.S. dollar," said Ji Ming, chief analyst, Shandong Gold Group.

·         "The risk of trade war is shrinking, which is good for the U.S. dollar, so maybe by end of this week the U.S. dollar will not be that weak."

·         In other precious metals, spot silver was up 0.2 percent at $16.51 per ounce after hitting a three-week high of $16.80 in the previous session.

·         Platinum  was up 0.1 percent at $943.50 per ounce, having fallen to lowest since early January in the previous session.

·         Palladium was down 0.1 percent at $971.43 an ounce.


Reference: Reuters

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