Gold prices fell, on Monday, to their lowest levels in about two weeks, as the framework trade agreement between the United States and the European Union reduced the demand for safe haven.
The instant gold price decreased by 0.1 percent to $ 3332.39 an ounce, starting at 00:20 GMT, after it has touched its lowest level since July 17. US gold futures decreased by 0.1 percent to $ 3332.50.
The United States concluded a framework trade agreement with the European Union, on Sunday, and imposed 15 percent customs duties on most of the European Union goods – that is, half of the threatened rate – which led to the avoidance of a wider trade war between the two allies representing nearly a third of global trade.
The agreement reflects the main parts of the United States’s framework agreement with Japan, but as is the case with that agreement, it leaves a number of open questions, including customs duties rates on spiritual drinks, which is a thorny issue for many on both sides of the Atlantic Ocean.
Investors have improved after the agreement, with European currency trading and futures for the American stock index high.
Senior American and Chinese negotiators will meet in Stockholm on Monday; To address long -term economic conflicts that constitute the axis of a commercial war between the two largest economies in the world, with the aim of extending the truce that keeps the highly high customs duties under control.
The US dollar index decreased by 0.1 percent, making the dollar -ranging alloys less expensive for foreign buyers.
The Federal Reserve is widely expected to keep the standard interest rate of 4.25 percent – 4.50 percent, at the end of the two -day monetary policy meeting, on Wednesday.
The President of the Federal Reserve, Jerome Powell, indicated that the central bank should wait for more economic data before making any changes to interest rates. On Friday, US President Donald Trump stated that he had a positive meeting with Powell, noting that the Federal Reserve may tend to reduce interest rates.
The instant silver price increased by 0.1 percent to $ 38.17 an ounce, while platinum increased by 0.9 percent to $ 1413.50, and palladium increased by 0.5 percent to $ 1225.25.
