Gold Firms on China Deal Pessimism

Written by Swiss America

320px China Gold Tael von Finemetal AG ZürichGold firms on US-China trade deal pessimism -CNBC
"Gold prices firmed on on Monday after CNBC reported Chinese officials are pessimistic about the prospect of a U.S.-China trade deal, following a report of 'constructive talks' over the weekend.

The mood in Beijing about a trade deal is pessimistic due to President Donald Trump's reluctance to roll back tariffs, which China believed the U.S. had agreed to, a government source told CNBC's Eunice Yoon....Chinese state media Xinhua reported Washington and Beijing had a high-level phone call on Saturday and that the two sides discussed each other's core issues for the first phase of an initial trade agreement....Meanwhile, investors also kept a close eye on developments in Hong Kong, with police on Monday trapping hundreds of protesters inside a major university and demonstrators rampaging through a tourist district, after almost two straight days of standoffs. Gold is considered a safe store of value during times of economic or political uncertainty."