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Gold caught flat-footed on optimism over U.S. – China trade

November 26, 2019

Gold futures were little changed Tuesday, pinned down by upbeat expectations around U.S.-China trade talks that have dulled the metal’s haven appeal.

Gold for December delivery GCZ19, -0.01% on Comex was off 40 cents, or less than 0.1%, at $1,456.50 an ounce, while December silver SIZ19, -0.04% edged 0.6 cent lower to $16.88 an ounce.

“The cautious optimism that still prevails among market participants as regards the trade dispute between the U.S. and China is preventing the gold price from recovering,” said Daniel Briesemann, commodity analyst at Commerzbank, in a note.

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